Shell Asset Management Co. Decreases Stock Position in Chevron Corporation $CVX

Shell Asset Management Co. trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 88.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,982 shares of the oil and gas company’s stock after selling 45,133 shares during the quarter. Shell Asset Management Co.’s holdings in Chevron were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vishria Bird Financial Group LLC raised its position in Chevron by 1.2% in the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after purchasing an additional 65 shares during the period. Nexus Investment Management ULC grew its stake in shares of Chevron by 0.9% during the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after buying an additional 65 shares during the last quarter. Scott & Selber Inc. raised its holdings in shares of Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after buying an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC lifted its stake in shares of Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. boosted its holdings in Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock valued at $987,000 after acquiring an additional 66 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank restated a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a report on Friday, January 16th. Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Freedom Capital lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Finally, Barclays increased their price objective on Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $175.00.

Chevron Price Performance

NYSE CVX opened at $183.65 on Tuesday. The company has a market cap of $369.79 billion, a PE ratio of 27.58, a P/E/G ratio of 12.16 and a beta of 0.70. The firm’s 50 day moving average price is $163.21 and its 200-day moving average price is $157.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $186.52.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share 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 company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. Chevron’s revenue was down 10.2% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Tuesday, February 17th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s dividend payout ratio is 102.70%.

Insider Buying and Selling

In other news, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. The trade was a 88.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Hewitt Pate sold 41,134 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the transaction, the insider owned 4,169 shares of the company’s stock, valued at approximately $735,411.60. This trade represents a 90.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 793,163 shares of company stock valued at $127,920,502 over the last three months. Corporate insiders own 0.20% of the company’s stock.

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.