Chevron Co. (NYSE:CVX) Shares Sold by Osher Van de Voorde Investment Management

Osher Van de Voorde Investment Management lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,536 shares of the oil and gas company’s stock after selling 385 shares during the period. Chevron accounts for 4.0% of Osher Van de Voorde Investment Management’s investment portfolio, making the stock its 13th largest holding. Osher Van de Voorde Investment Management’s holdings in Chevron were worth $17,446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. American Capital Advisory LLC increased its stake in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the period. Bare Financial Services Inc purchased a new stake in Chevron in the 4th quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the 4th quarter worth approximately $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its stake in shares of Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s 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 sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Mizuho increased their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Barclays dropped their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Up 1.5 %

Shares of NYSE CVX traded up $2.13 during trading on Thursday, reaching $146.80. 6,091,615 shares of the stock were exchanged, compared to its average volume of 7,887,742. The company has a market capitalization of $270.55 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The business’s 50-day moving average price is $154.18 and its 200 day moving average price is $156.00. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 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.