Versor Investments LP Sells 6,222 Shares of Chevron Corporation $CVX

Versor Investments LP decreased its position in Chevron Corporation (NYSE:CVX) by 51.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,873 shares of the oil and gas company’s stock after selling 6,222 shares during the period. Versor Investments LP’s holdings in Chevron were worth $841,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in Chevron during the first quarter worth about $31,000. Quaker Wealth Management LLC boosted its holdings in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. Cloud Capital Management LLC bought a new position in Chevron during the first quarter worth about $39,000. Finally, Investment Management Corp VA ADV boosted its holdings in Chevron by 171.3% during the first 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 during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron 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 directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Scotiabank lifted their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. One 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.25.

Chevron Trading Up 2.6%

NYSE:CVX opened at $157.58 on Monday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market capitalization of $272.30 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. The business’s 50-day simple moving average is $156.07 and its 200-day simple moving average is $149.20.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $49.73 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter last year, the firm earned $2.48 EPS. Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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.