Plancorp LLC Increases Position in Chevron Corporation $CVX

by · The Markets Daily

Plancorp LLC lifted its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 11,423 shares of the oil and gas company’s stock after buying an additional 425 shares during the period. Plancorp LLC’s holdings in Chevron were worth $1,911,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CVX. Bank Pictet & Cie Europe AG raised its stake in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after purchasing an additional 2,641 shares during the period. Algert Global LLC raised its stake in Chevron by 21.9% during the fourth quarter. Algert Global LLC now owns 3,010 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 540 shares during the period. Fred Alger Management LLC raised its stake in Chevron by 2.0% during the fourth quarter. Fred Alger Management LLC now owns 66,607 shares of the oil and gas company’s stock worth $9,647,000 after purchasing an additional 1,281 shares during the period. First Manhattan CO. LLC. raised its stake in Chevron by 7.9% during the fourth quarter. First Manhattan CO. LLC. now owns 42,442 shares of the oil and gas company’s stock worth $6,440,000 after purchasing an additional 3,091 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in Chevron by 3.9% during the fourth quarter. Ensign Peak Advisors Inc now owns 2,006,836 shares of the oil and gas company’s stock worth $290,670,000 after purchasing an additional 74,924 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX opened at $153.83 on Friday. The company has a fifty day simple moving average of $153.69 and a 200 day simple moving average of $148.92. The firm has a market cap of $265.81 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.34 and a beta of 0.90. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.55 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be 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 of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Melius assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Mizuho cut their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley started coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $163.95.

View Our Latest Analysis on Chevron

Chevron Profile

(Free Report)

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.

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