Cerity Partners LLC Lowers Stock Holdings in Chevron Corporation $CVX

Cerity Partners LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 1.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,223,425 shares of the oil and gas company’s stock after selling 21,793 shares during the quarter. Cerity Partners LLC’s holdings in Chevron were worth $175,185,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVX. Analyst IMS Investment Management Services Ltd. increased its holdings in shares of Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after acquiring an additional 67 shares in the last quarter. Greenfield Savings Bank grew its position in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its stake in Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after buying an additional 68 shares during the last quarter. Finally, Clarity Wealth Advisors LLC lifted its stake in shares of Chevron by 1.7% in the second quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $149.98 on Friday. The firm has a market capitalization of $301.99 billion, a P/E ratio of 21.09, a PEG ratio of 8.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business has a fifty day moving average of $153.23 and a 200 day moving average of $151.61.

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, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $2.48 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVX shares. Barclays reduced their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley boosted their price target on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Melius assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Scotiabank lifted their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Wells Fargo & Company upped their target price on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $166.16.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.