Hardy Reed LLC Sells 184 Shares of Chevron Corporation $CVX

Hardy Reed LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 1.7% in the second quarter, HoldingsChannel reports. The fund owned 10,485 shares of the oil and gas company’s stock after selling 184 shares during the period. Hardy Reed LLC’s holdings in Chevron were worth $1,501,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Patriot Financial Group Insurance Agency LLC increased its stake in Chevron by 2.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 9,633 shares of the oil and gas company’s stock valued at $1,611,000 after purchasing an additional 194 shares in the last quarter. City Center Advisors LLC bought a new stake in Chevron in the first quarter worth about $232,000. Priebe Wealth Holdings LLC lifted its stake in Chevron by 11.7% in the first quarter. Priebe Wealth Holdings LLC now owns 1,775 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 186 shares during the last quarter. Cherrydale Wealth Management LLC purchased a new stake in Chevron in the 1st quarter worth about $244,000. Finally, Courier Capital LLC boosted its holdings in Chevron by 0.5% in the 1st quarter. Courier Capital LLC now owns 62,072 shares of the oil and gas company’s stock worth $10,384,000 after buying an additional 302 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated 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 in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction 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 sale, the vice president 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. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.3%

Shares of CVX stock opened at $153.99 on Tuesday. The stock has a fifty day simple moving average of $156.19 and a two-hundred day simple moving average of $148.80. 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 Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $266.09 billion, a PE ratio of 19.82, a PEG ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on CVX shares. Melius Research initiated coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Piper Sandler raised their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $165.05.

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.