Corebridge Financial Inc. Sells 32,248 Shares of Chevron Corporation $CVX

Corebridge Financial Inc. lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 429,125 shares of the oil and gas company’s stock after selling 32,248 shares during the quarter. Chevron accounts for about 0.4% of Corebridge Financial Inc.’s portfolio, making the stock its 27th largest position. Corebridge Financial Inc.’s holdings in Chevron were worth $71,788,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Sage Capital Advisors llc lifted its holdings in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares during the last quarter. CCG Wealth Management LLC lifted its holdings in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. lifted its holdings in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after acquiring an additional 675 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.5%

Shares of CVX opened at $157.8970 on Monday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50-day moving average of $151.21 and a 200 day moving average of $148.61. The firm has a market capitalization of $272.84 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.35 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVX shares. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $163.95.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.