Chevron Corporation $CVX Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in Chevron Corporation (NYSE:CVX) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,839,930 shares of the oil and gas company’s stock after selling 510,474 shares during the period. Geode Capital Management LLC’s holdings in Chevron were worth $5,252,100,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd lifted its stake in 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 purchased a new position in shares of Chevron in the 1st quarter valued at about $31,000. Quaker Wealth Management LLC lifted its position in shares of Chevron by 197.7% during the 2nd 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. IMG Wealth Management Inc. boosted its stake in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. Finally, Investment Management Corp VA ADV grew its stake in 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 buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3%

NYSE CVX opened at $156.05 on Wednesday. The firm’s 50 day moving average price is $155.33 and its two-hundred day moving average price is $150.04. The stock has a market cap of $269.65 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.48 EPS. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CVX shares. Barclays lowered their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Melius started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Bank of America boosted their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.45.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the business’s 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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction 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. The trade was a 77.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

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.