LSV Asset Management Sells 13,600 Shares of Chevron Co. (NYSE:CVX)

LSV Asset Management reduced its position in Chevron Co. (NYSE:CVX) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,949 shares of the oil and gas company’s stock after selling 13,600 shares during the quarter. LSV Asset Management’s holdings in Chevron were worth $38,954,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in Chevron by 13.2% in the third quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock valued at $612,164,000 after buying an additional 423,863 shares in the last quarter. VisionPoint Advisory Group LLC raised its stake in shares of Chevron by 46.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 489 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 154 shares during the period. Chemung Canal Trust Co. raised its stake in shares of Chevron by 0.8% in the 4th quarter. Chemung Canal Trust Co. now owns 14,254 shares of the oil and gas company’s stock valued at $2,126,000 after acquiring an additional 113 shares during the period. Doliver Advisors LP boosted its position in Chevron by 5.8% in the 4th quarter. Doliver Advisors LP now owns 7,932 shares of the oil and gas company’s stock valued at $1,183,000 after buying an additional 436 shares during the period. Finally, DNB Asset Management AS raised its holdings in shares of Chevron by 8.1% in the 4th quarter. DNB Asset Management AS now owns 400,501 shares of the oil and gas company’s stock valued at $59,739,000 after purchasing an additional 29,912 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. TD Cowen lifted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Scotiabank cut their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $187.06.

Chevron Price Performance

NYSE CVX traded up $0.36 during trading on Friday, reaching $155.62. The company’s stock had a trading volume of 6,443,501 shares, compared to its average volume of 7,932,770. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market capitalization of $286.80 billion, a PE ratio of 14.31, a P/E/G ratio of 2.35 and a beta of 1.10. The firm has a fifty day moving average of $157.85 and a 200 day moving average of $155.03. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $3.55 EPS. Analysts expect that Chevron Co. will post 13.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

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.