Chartwell Investment Partners LLC Sells 6,660 Shares of Chevron Corporation (CVX)

Chartwell Investment Partners LLC lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,150 shares of the oil and gas company’s stock after selling 6,660 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Chevron Corporation were worth $13,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVX. Harbour Capital Advisors LLC raised its holdings in shares of Chevron Corporation by 10,213.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after purchasing an additional 5,653,686 shares in the last quarter. State Street Corp raised its holdings in shares of Chevron Corporation by 1.1% during the 1st quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after purchasing an additional 1,261,078 shares in the last quarter. Boston Partners raised its holdings in shares of Chevron Corporation by 17.9% during the 2nd quarter. Boston Partners now owns 7,147,113 shares of the oil and gas company’s stock valued at $745,659,000 after purchasing an additional 1,084,757 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Chevron Corporation by 204.4% during the 2nd quarter. First Trust Advisors LP now owns 1,373,511 shares of the oil and gas company’s stock valued at $143,298,000 after purchasing an additional 922,316 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of Chevron Corporation during the 1st quarter valued at $77,388,000. Institutional investors and hedge funds own 63.15% of the company’s stock.

A number of research firms have recently weighed in on CVX. Zacks Investment Research downgraded shares of Chevron Corporation from a “buy” rating to a “hold” rating in a report on Monday. Citigroup Inc. lifted their target price on shares of Chevron Corporation from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Jefferies Group LLC reiterated a “buy” rating and issued a $137.00 target price (up previously from $113.54) on shares of Chevron Corporation in a report on Monday, October 30th. Royal Bank Of Canada set a $100.00 target price on shares of Chevron Corporation and gave the stock a “sell” rating in a report on Friday, October 27th. Finally, TheStreet upgraded shares of Chevron Corporation from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $120.54.

In related news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Patricia E. Yarrington sold 116,857 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the sale, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at $4,554,646.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,979 shares of company stock valued at $20,905,804. 0.38% of the stock is currently owned by insiders.

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Shares of Chevron Corporation (CVX) opened at $115.91 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market cap of $218,750.89, a P/E ratio of 32.26, a P/E/G ratio of 3.80 and a beta of 1.22. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $120.89.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. Chevron Corporation’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. analysts predict that Chevron Corporation will post 4.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is 125.95%.

Chevron Corporation Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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