Chevron Co. (NYSE:CVX) Stock Position Decreased by Papp L Roy & Associates

Papp L Roy & Associates cut its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,720 shares of the oil and gas company’s stock after selling 2,093 shares during the period. Papp L Roy & Associates’ holdings in Chevron were worth $6,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Chevron by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock valued at $3,776,323,000 after acquiring an additional 667,875 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the 4th quarter valued at approximately $3,111,594,000. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock valued at $1,702,446,000 after acquiring an additional 254,353 shares in the last quarter. Invesco Ltd. raised its stake in shares of Chevron by 6.8% in the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after acquiring an additional 917,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Chevron by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after acquiring an additional 346,881 shares in the last quarter. 65.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVX. Truist Financial cut their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Bank of America lifted their price target on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Credit Suisse Group lifted their price target on Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. Barclays lifted their price target on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. Finally, Wells Fargo & Company lifted their price target on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $173.00.

Chevron Price Performance

Shares of CVX stock opened at $153.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The firm has a market cap of $301.87 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.61 and a beta of 1.15. The stock’s fifty day simple moving average is $154.37 and its 200 day simple moving average is $155.35. Chevron Co. has a one year low of $92.86 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 analysts’ consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The business’s revenue was up 82.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 earnings per share. On average, analysts expect that Chevron Co. will post 17.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. Chevron’s payout ratio is currently 37.89%.

Insider Transactions at Chevron

In other news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares in the company, valued at $125,662.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction dated 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 sale, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock worth $67,010,843 over the last 90 days. 0.32% of the stock is owned by insiders.

Chevron Company 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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