Atlantic Union Bankshares Corp Has $11.24 Million Stock Position in Chevron Co. (NYSE:CVX)

Atlantic Union Bankshares Corp cut its stake in shares of Chevron Co. (NYSE:CVX) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,403 shares of the oil and gas company’s stock after selling 7,334 shares during the period. Chevron makes up approximately 1.1% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 15th largest holding. Atlantic Union Bankshares Corp’s holdings in Chevron were worth $11,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the period. Moneta Group Investment Advisors LLC grew its position in Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 76.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after acquiring an additional 10,257,980 shares in the last quarter. Norges Bank acquired a new position in Chevron during the fourth quarter valued at approximately $3,058,235,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Chevron by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock valued at $2,421,958,000 after purchasing an additional 948,045 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the sale, the vice president now directly owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the transaction, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reduced their price target on Chevron from $180.00 to $170.00 in a report on Tuesday, July 11th. HSBC upped their target price on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Piper Sandler reduced their price objective on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Mizuho boosted their price target on Chevron from $209.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $166.00 to $187.00 in a research note on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $190.61.

Chevron Stock Up 0.4 %

Shares of CVX opened at $167.22 on Tuesday. The firm has a market cap of $312.24 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. Chevron Co. has a 1 year low of $140.46 and a 1 year high of $189.68. The stock has a 50 day simple moving average of $160.80 and a two-hundred day simple moving average of $160.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The company had revenue of $48.90 billion for the quarter, compared to analyst estimates of $48 billion. During the same quarter last year, the firm earned $5.82 EPS. The firm’s quarterly revenue was down 28.9% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. Chevron’s dividend payout ratio is presently 38.30%.

Chevron Profile

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.