Conservest Capital Advisors Inc. Lowers Stake in Chevron Corporation $CVX

Conservest Capital Advisors Inc. lessened its holdings in Chevron Corporation (NYSE:CVX) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,092 shares of the oil and gas company’s stock after selling 214 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Chevron were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CVX. GAMMA Investing LLC raised its position in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares during the period. Beacon Financial Advisory LLC bought a new stake in Chevron in the 1st quarter worth $225,000. Victrix Investment Advisors bought a new stake in Chevron in the 1st quarter worth $448,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Chevron by 2.2% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 72,589 shares of the oil and gas company’s stock worth $12,143,000 after acquiring an additional 1,564 shares during the last quarter. Finally, Old North State Wealth Management LLC grew its holdings in Chevron by 7.4% in the 1st quarter. Old North State Wealth Management LLC now owns 3,780 shares of the oil and gas company’s stock worth $634,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.6%

Shares of NYSE CVX opened at $155.63 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $268.92 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84. The firm has a 50-day moving average of $156.04 and a 200 day moving average of $148.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is 88.03%.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% 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 insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Evercore ISI reissued an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Friday. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $165.25.

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.