Cresset Asset Management LLC Decreases Position in Chevron Corporation $CVX

Cresset Asset Management LLC lessened its position in Chevron Corporation (NYSE:CVX) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 192,851 shares of the oil and gas company’s stock after selling 10,312 shares during the period. Cresset Asset Management LLC’s holdings in Chevron were worth $27,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Proactive Wealth Strategies LLC raised its holdings in Chevron by 6.8% in the 2nd quarter. Proactive Wealth Strategies LLC now owns 2,673 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 171 shares during the last quarter. SCS Capital Management LLC increased its holdings in shares of Chevron by 238.7% in the 2nd quarter. SCS Capital Management LLC now owns 119,477 shares of the oil and gas company’s stock worth $17,108,000 after purchasing an additional 84,202 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Chevron by 76.7% in the second quarter. Marshall Wace LLP now owns 1,534,575 shares of the oil and gas company’s stock worth $219,736,000 after purchasing an additional 666,071 shares during the last quarter. Allium Financial Advisors LLC bought a new position in shares of Chevron during the second quarter valued at $237,000. Finally, Royal Fund Management LLC boosted its position in shares of Chevron by 11.0% during the second quarter. Royal Fund Management LLC now owns 22,764 shares of the oil and gas company’s stock valued at $3,260,000 after buying an additional 2,255 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CVX shares. Morgan Stanley boosted their target price on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Wells Fargo & Company boosted their price objective on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Raymond James Financial restated an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $166.16.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

Chevron Stock Up 0.4%

Shares of CVX stock opened at $152.21 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $306.48 billion, a P/E ratio of 21.41, a P/E/G ratio of 8.97 and a beta of 0.68. The company has a 50 day simple moving average of $153.43 and a two-hundred day simple moving average of $151.43.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.48 EPS. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio is presently 96.20%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.