Deltec Asset Management LLC Sells 1,431 Shares of Chevron Corporation $CVX

Deltec Asset Management LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 35.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,650 shares of the oil and gas company’s stock after selling 1,431 shares during the period. Deltec Asset Management LLC’s holdings in Chevron were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd grew its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in shares of Chevron during the 1st quarter worth approximately $31,000. IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Chevron in the first quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV increased its position in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Morgan Stanley assumed coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Barclays reissued an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Price Performance

Shares of Chevron stock opened at $154.64 on Thursday. The stock has a market capitalization of $267.21 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company has a fifty day moving average of $156.31 and a 200-day moving average of $149.17. Chevron Corporation has a 52-week low of $132.04 and a 52-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.

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 the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director 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 disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.