Chevron Corporation $CVX Holdings Decreased by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,100 shares of the oil and gas company’s stock after selling 40,040 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Chevron were worth $6,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Main Street Group LTD acquired a new position in Chevron in the 1st quarter worth $28,000. Kilter Group LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at about $28,000. Principia Wealth Advisory LLC raised its stake in shares of Chevron by 49.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 60 shares during the period. Legacy Wealth Managment LLC ID lifted its holdings in shares of Chevron by 81.8% in the first quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 99 shares in the last quarter. Finally, Strategic Wealth Advisors LLC bought a new stake in shares of Chevron in the second quarter valued at about $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVX shares. Sanford C. Bernstein upped their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. HSBC set a $90.00 target price on Chevron in a research note on Friday, September 25th. BMO Capital Markets upped their price target on Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Finally, TD Cowen raised their price target on shares of Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider R. Pate sold 40,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the sale, the insider owned 8,791 shares in the company, valued at approximately $1,992,480.15. This represents a 82.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 379,470 shares of company stock worth $77,216,415 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Chevron Trading Down 0.8%

Chevron stock opened at $210.91 on Tuesday. The firm has a 50-day moving average of $215.09 and a 200-day moving average of $194.63. Chevron Corporation has a one year low of $146.49 and a one year high of $236.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market cap of $416.71 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 0.51 and a beta of 0.47.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. Chevron’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. On average, equities analysts expect that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron’s dividend payout ratio is 52.08%.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.