Banco Santander S.A. Sells 28,592 Shares of Chevron Corporation $CVX

Banco Santander S.A. reduced its stake in Chevron Corporation (NYSE:CVX) by 21.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,820 shares of the oil and gas company’s stock after selling 28,592 shares during the period. Banco Santander S.A.’s holdings in Chevron were worth $14,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Solstein Capital LLC grew its stake in shares of Chevron by 3.2% in the 2nd quarter. Solstein Capital LLC now owns 2,271 shares of the oil and gas company’s stock valued at $325,000 after purchasing an additional 70 shares during the period. Bolthouse Investments LLC grew its position in Chevron by 7.1% during the 2nd quarter. Bolthouse Investments LLC now owns 7,871 shares of the oil and gas company’s stock worth $1,127,000 after acquiring an additional 525 shares during the last quarter. Chilton Capital Management LLC increased its holdings in Chevron by 6.2% during the 2nd quarter. Chilton Capital Management LLC now owns 13,839 shares of the oil and gas company’s stock valued at $1,982,000 after purchasing an additional 813 shares in the last quarter. Resonant Capital Advisors LLC raised its position in Chevron by 4.6% in the 2nd quarter. Resonant Capital Advisors LLC now owns 37,471 shares of the oil and gas company’s stock valued at $5,365,000 after purchasing an additional 1,639 shares during the last quarter. Finally, New Hampshire Trust boosted its stake in Chevron by 3.2% in the second quarter. New Hampshire Trust now owns 11,578 shares of the oil and gas company’s stock worth $1,658,000 after purchasing an additional 362 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on CVX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Friday. Wells Fargo & Company started coverage on shares of Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 price target on the stock. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Raymond James Financial reiterated 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. Finally, TD Cowen upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Performance

CVX stock opened at $155.63 on Monday. The business’s fifty day moving average is $156.04 and its 200-day moving average is $148.48. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market cap of $268.92 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84. 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, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 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.