Chevron Corporation $CVX Shares Sold by WD Rutherford LLC

WD Rutherford LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,954 shares of the oil and gas company’s stock after selling 555 shares during the quarter. Chevron accounts for approximately 1.8% of WD Rutherford LLC’s portfolio, making the stock its 25th biggest position. WD Rutherford LLC’s holdings in Chevron were worth $3,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP purchased a new position in shares of Chevron during the first quarter valued at $31,000. IFS Advisors LLC lifted its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Chevron in the 1st quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV raised its holdings in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.4%

NYSE CVX opened at $160.13 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. 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 $156.04 and a 200-day moving average of $149.13. The company has a market cap of $276.70 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

Several analysts recently commented on the company. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Piper Sandler lifted their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.05.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

About Chevron

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.