Chevron Corporation $CVX Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in Chevron Corporation (NYSE:CVX) by 0.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,166,316 shares of the oil and gas company’s stock after selling 17,277 shares during the quarter. US Bancorp DE’s holdings in Chevron were worth $336,409,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Perigon Wealth Management LLC boosted its holdings in Chevron by 19.3% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after purchasing an additional 11,875 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Chevron by 15.3% in the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock valued at $251,606,000 after buying an additional 215,345 shares during the period. Pictet North America Advisors SA acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $5,662,000. New York State Common Retirement Fund boosted its stake in shares of Chevron by 10.2% in the third quarter. New York State Common Retirement Fund now owns 1,894,470 shares of the oil and gas company’s stock valued at $294,192,000 after buying an additional 175,439 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Chevron by 8.7% during the third quarter. Envestnet Asset Management Inc. now owns 4,891,609 shares of the oil and gas company’s stock worth $759,618,000 after acquiring an additional 389,694 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.6%

NYSE CVX opened at $184.23 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $168.02 and its 200-day simple moving average is $159.17. The stock has a market cap of $370.94 billion, a P/E ratio of 27.66, a PEG ratio of 12.26 and a beta of 0.70. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $187.90.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same period in the previous year, the company earned $2.06 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.9%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is 106.91%.

Insiders Place Their Bets

In other news, CTO Thomas Ryder Booth sold 1,122 shares of Chevron stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $182.37, for a total value of $204,619.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 41,134 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $176.40, for a total value of $7,256,037.60. Following the completion of the sale, the insider owned 4,169 shares of the company’s stock, valued at $735,411.60. This trade represents a 90.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 534,898 shares of company stock worth $89,543,711. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Tuesday, February 17th. BMO Capital Markets reissued an “outperform” rating and set a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Argus set a $203.00 price target on shares of Chevron in a report on Tuesday, February 3rd. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $176.36.

Chevron Company Profile

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.