CV Advisors LLC Sells 115 Shares of Chevron Corporation $CVX

CV Advisors LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,875 shares of the oil and gas company’s stock after selling 115 shares during the period. Chevron comprises about 0.3% of CV Advisors LLC’s portfolio, making the stock its 21st biggest position. CV Advisors LLC’s holdings in Chevron were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Sather Financial Group Inc grew its position in shares of Chevron by 50.0% in the 2nd quarter. Sather Financial Group Inc now owns 3,512 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 1,170 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Chevron by 8.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 121,789 shares of the oil and gas company’s stock valued at $17,439,000 after purchasing an additional 9,600 shares during the period. Johnson Investment Counsel Inc. lifted its stake in shares of Chevron by 3.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 837,953 shares of the oil and gas company’s stock valued at $119,986,000 after purchasing an additional 28,447 shares during the period. Inman Jager Wealth Management LLC lifted its stake in shares of Chevron by 3.9% in the 2nd quarter. Inman Jager Wealth Management LLC now owns 18,066 shares of the oil and gas company’s stock valued at $2,587,000 after purchasing an additional 672 shares during the period. Finally, GFS Advisors LLC acquired a new position in shares of Chevron in the 2nd quarter valued at about $9,474,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Mizuho dropped their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $165.40.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Down 1.7%

CVX stock opened at $149.11 on Friday. The stock’s 50 day simple moving average is $156.10 and its 200 day simple moving average is $148.54. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $257.66 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio is 88.03%.

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; 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.