Brueske Advisory Services LLC Decreases Stock Position in Chevron Corporation $CVX

Brueske Advisory Services LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,531 shares of the oil and gas company’s stock after selling 86 shares during the quarter. Brueske Advisory Services LLC’s holdings in Chevron were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC raised its position in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Chevron in the 1st quarter valued at approximately $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron in the 1st quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.5%

Shares of CVX stock opened at $155.38 on Wednesday. The stock has a 50-day simple moving average of $156.27 and a 200 day simple moving average of $149.14. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $268.50 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.95 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank reissued a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Melius Research started coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Bank of America increased their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Melius started coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $165.05.

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.