Creative Planning Sells 10,232 Shares of Chevron Co. (NYSE:CVX)

Creative Planning trimmed its position in shares of Chevron Co. (NYSE:CVX) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 395,504 shares of the oil and gas company’s stock after selling 10,232 shares during the quarter. Creative Planning’s holdings in Chevron were worth $40,124,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Chevron by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock valued at $16,915,716,000 after buying an additional 5,427,422 shares during the last quarter. State Street Corp boosted its holdings in shares of Chevron by 1.3% during the 2nd quarter. State Street Corp now owns 139,640,367 shares of the oil and gas company’s stock valued at $14,625,932,000 after purchasing an additional 1,844,030 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Chevron by 3.3% during the 2nd quarter. BlackRock Inc. now owns 136,355,706 shares of the oil and gas company’s stock valued at $14,281,898,000 after purchasing an additional 4,339,477 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chevron by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 30,544,480 shares of the oil and gas company’s stock valued at $3,190,395,000 after purchasing an additional 537,762 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Chevron by 6.9% during the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock valued at $2,440,693,000 after purchasing an additional 1,513,296 shares during the last quarter. 64.98% of the stock is currently owned by institutional investors and hedge funds.

CVX has been the topic of a number of recent analyst reports. Societe Generale initiated coverage on shares of Chevron in a research report on Friday, October 22nd. They issued a “buy” rating and a $130.00 price objective on the stock. Raymond James increased their price objective on shares of Chevron from $134.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, November 1st. Mizuho restated a “buy” rating on shares of Chevron in a research note on Wednesday, November 3rd. Truist raised their target price on shares of Chevron from $150.00 to $167.00 and gave the company a “buy” rating in a research note on Friday. Finally, Tudor, Pickering, Holt & Co. raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, November 30th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $124.92.

In other Chevron news, EVP James William Johnson sold 78,000 shares of the business’s stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $113.13, for a total transaction of $8,824,140.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Inchausti sold 5,600 shares of the business’s stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $112.01, for a total value of $627,256.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 475,801 shares of company stock worth $55,502,677. Corporate insiders own 0.28% of the company’s stock.

Shares of Chevron stock opened at $126.91 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $117.33 and its two-hundred day moving average price is $107.79. Chevron Co. has a 52 week low of $84.57 and a 52 week high of $128.43. The stock has a market cap of $244.64 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.87 and a beta of 1.28.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Thursday, November 18th were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Wednesday, November 17th. This represents a $5.36 annualized dividend and a yield of 4.22%. Chevron’s payout ratio is presently 103.47%.

Chevron Profile

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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