Chevron Corporation $CVX Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,342 shares of the oil and gas company’s stock after selling 561 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Chevron were worth $2,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron during the 1st quarter worth about $31,000. IMG Wealth Management Inc. raised its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $39,000. Finally, Investment Management Corp VA ADV raised its position in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.1%

Shares of CVX stock opened at $155.38 on Tuesday. The business’s 50 day moving average is $156.03 and its two-hundred day moving average is $148.55. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $268.49 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84. 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 (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 company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business posted $2.55 EPS. The company’s revenue was down 12.4% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was 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 in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of Chevron 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% 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.

Analyst Ratings Changes

Several research firms have commented on CVX. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Wells Fargo & Company began coverage on Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 price target on the stock. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Finally, UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $165.25.

Chevron 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.