Chevron Corporation $CVX Shares Sold by US Bancorp DE

US Bancorp DE lessened its stake in Chevron Corporation (NYSE:CVX) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,166,316 shares of the oil and gas company’s stock after selling 17,277 shares during the quarter. US Bancorp DE owned 0.13% of Chevron worth $336,409,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CVX. Catalyst Financial Partners LLC grew its stake in shares of Chevron by 43.2% during the 3rd quarter. Catalyst Financial Partners LLC now owns 11,714 shares of the oil and gas company’s stock worth $1,819,000 after purchasing an additional 3,532 shares during the period. Hager Investment Management Services LLC boosted its holdings in Chevron by 13.2% during the third quarter. Hager Investment Management Services LLC now owns 4,980 shares of the oil and gas company’s stock worth $773,000 after buying an additional 581 shares in the last quarter. Empirical Asset Management LLC grew its position in Chevron by 101.1% during the third quarter. Empirical Asset Management LLC now owns 23,167 shares of the oil and gas company’s stock valued at $3,598,000 after buying an additional 11,646 shares during the period. Cary Street Partners Financial LLC increased its holdings in Chevron by 0.6% in the third quarter. Cary Street Partners Financial LLC now owns 77,380 shares of the oil and gas company’s stock valued at $12,016,000 after buying an additional 454 shares in the last quarter. Finally, Colonial Trust Advisors raised its position in shares of Chevron by 0.5% in the third quarter. Colonial Trust Advisors now owns 69,358 shares of the oil and gas company’s stock worth $10,771,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.6%

CVX opened at $184.23 on Thursday. The firm has a market capitalization of $370.94 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 12.26 and a beta of 0.70. The company’s 50 day simple moving average is $168.02 and its two-hundred day simple moving average is $159.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $187.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 earnings per share. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is presently 106.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Freedom Capital lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Piper Sandler reduced their target price on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $176.36.

Insider Transactions at Chevron

In other Chevron news, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total value of $441,338.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Benjamin Walz sold 1,463 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $183.83, for a total transaction of $268,943.29. The SEC filing for this sale provides additional information. Insiders have sold a total of 534,898 shares of company stock valued at $89,543,711 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.