Nvest Financial LLC Sells 279 Shares of Chevron Co. (NYSE:CVX)

Nvest Financial LLC lessened its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,734 shares of the oil and gas company’s stock after selling 279 shares during the quarter. Chevron makes up approximately 2.2% of Nvest Financial LLC’s portfolio, making the stock its 15th biggest position. Nvest Financial LLC’s holdings in Chevron were worth $2,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. Clarity Financial LLC raised its stake in Chevron by 2.2% during the first quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company’s stock valued at $454,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its stake in shares of Chevron by 3.4% in the first quarter. SYM FINANCIAL Corp now owns 1,895 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 62 shares during the last quarter. LCM Capital Management Inc increased its holdings in shares of Chevron by 0.9% during the first quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company’s stock valued at $1,190,000 after acquiring an additional 63 shares in the last quarter. Matrix Private Capital Group LLC raised its position in shares of Chevron by 0.3% in the 1st quarter. Matrix Private Capital Group LLC now owns 20,229 shares of the oil and gas company’s stock worth $3,294,000 after purchasing an additional 64 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its stake in Chevron by 1.1% in the 1st quarter. John G Ullman & Associates Inc. now owns 6,002 shares of the oil and gas company’s stock worth $977,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 69.30% of the company’s stock.

Insider Transactions at Chevron

In related news, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $161.39, for a total value of $3,631,275.00. Following the completion of the transaction, the chief financial officer now owns 7 shares of the company’s stock, valued at $1,129.73. The disclosure for this sale can be found here. Insiders sold a total of 141,732 shares of company stock valued at $23,024,499 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $154.89 on Friday. The stock has a market cap of $304.33 billion, a P/E ratio of 10.33, a P/E/G ratio of 0.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The stock’s fifty day moving average is $155.74 and its 200 day moving average is $160.31. Chevron Co. has a one year low of $97.75 and a one year high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. The firm had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a $1.42 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.67%. Chevron’s payout ratio is currently 37.89%.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $202.00 target price on shares of Chevron in a report on Thursday, August 11th. Wells Fargo & Company lifted their target price on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, August 1st. Truist Financial lowered their price target on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Finally, Morgan Stanley upped their target price on shares of Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $169.20.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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