Rothschild Investment LLC Lowers Stock Holdings in Chevron Corporation $CVX

Rothschild Investment LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,502 shares of the oil and gas company’s stock after selling 2,641 shares during the period. Chevron accounts for about 1.2% of Rothschild Investment LLC’s portfolio, making the stock its 12th biggest holding. Rothschild Investment LLC’s holdings in Chevron were worth $18,973,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP purchased a new position in shares of Chevron in the first quarter worth $31,000. Quaker Wealth Management LLC boosted its position in shares of 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 acquiring an additional 439 shares during the last quarter. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% during 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 increased its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Mizuho increased their price target on Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a research note on Thursday. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Finally, Scotiabank raised their target price on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $166.55.

Insider Buying and Selling at Chevron

In related news, 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $157.61 on Monday. The stock’s 50-day moving average is $155.26 and its two-hundred day moving average is $150.40. 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 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market cap of $317.35 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.83.

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. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.48 EPS. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

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.