Integrity Alliance LLC. Has $1.66 Million Stock Position in Chevron Corporation $CVX

Integrity Alliance LLC. reduced its stake in Chevron Corporation (NYSE:CVX) by 48.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,561 shares of the oil and gas company’s stock after selling 10,815 shares during the quarter. Integrity Alliance LLC.’s holdings in Chevron were worth $1,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Analyst IMS Investment Management Services Ltd. lifted its stake in shares of Chevron by 1.0% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares during the period. Greenfield Savings Bank lifted its stake in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 68 shares during the period. Atwater Malick LLC lifted its stake in shares of Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC lifted its stake in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 70 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $165.25.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction on 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 sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.58 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock’s 50 day moving average is $156.07 and its 200-day moving average is $149.00. The firm has a market capitalization of $272.30 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the prior year, the firm earned $2.48 earnings per share. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 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.