Chevron Corporation $CVX Holdings Reduced by Center for Financial Planning Inc.

Center for Financial Planning Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,642 shares of the oil and gas company’s stock after selling 212 shares during the period. Center for Financial Planning Inc.’s holdings in Chevron were worth $1,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Chevron by 652,139.5% in the second 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 acquiring an additional 83,702,101 shares in the last quarter. GQG Partners LLC bought a new position in shares of Chevron in the first quarter valued at approximately $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron in the first quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after buying an additional 1,107,628 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on 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 sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Chevron Trading Up 2.6%

Chevron stock opened at $157.58 on Friday. The company has a 50 day moving average price of $156.07 and a 200 day moving average price of $149.00. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market capitalization of $272.30 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $49.73 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter last year, the business posted $2.48 EPS. The company’s revenue was down 1.9% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Scotiabank raised their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price for the company. 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, Mizuho reduced their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.25.

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.