Chevron Co. (NYSE:CVX) Shares Sold by Principal Street Partners LLC

Principal Street Partners LLC cut its stake in Chevron Co. (NYSE:CVX) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,060 shares of the oil and gas company’s stock after selling 1,934 shares during the period. Principal Street Partners LLC’s holdings in Chevron were worth $4,571,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. SouthState Corp grew its stake in shares of Chevron by 5.9% during the 3rd quarter. SouthState Corp now owns 73,369 shares of the oil and gas company’s stock valued at $7,443,000 after buying an additional 4,086 shares during the period. O Shaughnessy Asset Management LLC grew its position in Chevron by 10.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 267,714 shares of the oil and gas company’s stock valued at $27,171,000 after acquiring an additional 25,958 shares during the period. Pictet & Cie Europe SA grew its position in Chevron by 1.5% during the third quarter. Pictet & Cie Europe SA now owns 147,452 shares of the oil and gas company’s stock valued at $14,959,000 after acquiring an additional 2,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Chevron by 51.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 873,803 shares of the oil and gas company’s stock worth $88,647,000 after purchasing an additional 295,098 shares during the period. Finally, Boyer & Corporon Wealth Management LLC lifted its stake in shares of Chevron by 1.6% in the 3rd quarter. Boyer & Corporon Wealth Management LLC now owns 37,168 shares of the oil and gas company’s stock valued at $3,771,000 after purchasing an additional 574 shares in the last quarter. 64.98% of the stock is currently owned by institutional investors.

Shares of CVX stock traded up $0.39 during trading hours on Thursday, reaching $127.72. The stock had a trading volume of 62,554 shares, compared to its average volume of 10,803,046. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.28 and a quick ratio of 1.03. The firm has a 50-day simple moving average of $117.06 and a 200-day simple moving average of $107.65. The firm has a market capitalization of $246.20 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28. Chevron Co. has a twelve month low of $84.57 and a twelve month high of $128.43.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.75. Chevron had a return on equity of 7.95% and a net margin of 7.10%. The business had revenue of $44.71 billion during the quarter, compared to the consensus estimate of $40.89 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The business’s revenue was up 82.9% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 8.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Thursday, November 18th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Wednesday, November 17th. Chevron’s dividend payout ratio (DPR) is 103.47%.

In other Chevron news, EVP James William Johnson sold 78,000 shares of the company’s stock in a transaction dated Wednesday, October 20th. The shares were sold at an average price of $113.13, for a total value of $8,824,140.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $112.01, for a total transaction of $627,256.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,801 shares of company stock worth $50,435,077. Company insiders own 0.29% of the company’s stock.

Several research firms have issued reports on CVX. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Tuesday, November 30th. Raymond James raised their price objective on Chevron from $134.00 to $137.00 and gave the company an “outperform” rating in a research report on Monday, November 1st. Tudor, Pickering, Holt & Co. upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, November 30th. Morgan Stanley restated a “buy” rating and issued a $154.00 price target on shares of Chevron in a report on Friday, December 3rd. Finally, JPMorgan Chase & Co. lowered shares of Chevron from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $128.00 to $111.00 in a research note on Wednesday, September 15th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Buy” and an average price target of $124.24.

About Chevron

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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