Investment Advisory Group LLC Sells 82 Shares of Chevron Corporation $CVX

Investment Advisory Group LLC cut its position in shares of Chevron Corporation (NYSE:CVX) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,688 shares of the oil and gas company’s stock after selling 82 shares during the quarter. Investment Advisory Group LLC’s holdings in Chevron were worth $242,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd grew its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP bought a new position in shares of Chevron during the 1st quarter worth about $31,000. Cloud Capital Management LLC bought a new position in shares of Chevron during the 1st quarter worth about $39,000. Investment Management Corp VA ADV boosted its position in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Finally, GFG Capital LLC bought a new position in shares of Chevron during the 2nd quarter worth about $42,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Scotiabank lifted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Stock Down 1.7%

Chevron stock opened at $149.11 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The firm’s 50-day simple moving average is $156.10 and its 200 day simple moving average is $148.54. 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 released 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 for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were 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 approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. 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.