Smith Moore & CO. Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Smith Moore & CO. trimmed its position in Chevron Co. (NYSE:CVXGet Rating) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,775 shares of the oil and gas company’s stock after selling 433 shares during the period. Smith Moore & CO.’s holdings in Chevron were worth $2,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Rothschild Investment Corp IL grew its stake in shares of Chevron by 0.6% in the second quarter. Rothschild Investment Corp IL now owns 134,756 shares of the oil and gas company’s stock worth $19,510,000 after acquiring an additional 748 shares during the last quarter. S.C. Financial Services Inc. grew its stake in shares of Chevron by 12.3% in the second quarter. S.C. Financial Services Inc. now owns 3,880 shares of the oil and gas company’s stock worth $562,000 after acquiring an additional 424 shares during the last quarter. Mizuho Securities Co. Ltd. boosted its position in shares of Chevron by 42.9% during the second quarter. Mizuho Securities Co. Ltd. now owns 1,406 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 422 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Chevron by 15.9% during the second quarter. Sound Income Strategies LLC now owns 2,879 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 395 shares during the last quarter. Finally, Genesee Capital Advisors LLC purchased a new stake in shares of Chevron during the second quarter valued at $1,087,000. 69.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 55,380 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $185.09, for a total value of $10,250,284.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Chevron news, CEO Michael K. Wirth sold 55,380 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $185.09, for a total value of $10,250,284.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the transaction, the director now directly owns 21,964 shares in the company, valued at approximately $3,941,220.16. The disclosure for this sale can be found here. Insiders have sold 125,097 shares of company stock valued at $22,971,967 in the last quarter. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Piper Sandler increased their target price on Chevron from $186.00 to $206.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Morgan Stanley increased their target price on Chevron from $193.00 to $196.00 and gave the company an “equal weight” rating in a report on Wednesday, October 19th. Citigroup increased their target price on Chevron from $155.00 to $180.00 in a report on Tuesday. Raymond James increased their target price on Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $202.00 target price on shares of Chevron in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.85.

Chevron Trading Down 0.9 %

Shares of NYSE CVX traded down $1.65 during trading hours on Thursday, hitting $184.24. 5,831,218 shares of the company traded hands, compared to its average volume of 8,293,712. The stock has a market capitalization of $356.25 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.21. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $168.12 and its 200 day moving average price is $161.64. Chevron Co. has a 12 month low of $110.73 and a 12 month high of $189.68.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.34. The firm had revenue of $66.64 billion for the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 EPS. On average, equities research analysts anticipate that Chevron Co. will post 19.24 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, November 17th. Chevron’s dividend payout ratio (DPR) is presently 32.31%.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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