Private Wealth Management Group LLC Sells 106 Shares of Chevron Corporation $CVX

Private Wealth Management Group LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 22.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 361 shares of the oil and gas company’s stock after selling 106 shares during the period. Private Wealth Management Group LLC’s holdings in Chevron were worth $52,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. GAMMA Investing LLC increased its position in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares in the last quarter. Curran Financial Partners LLC increased its position in shares of Chevron by 1.3% during the first quarter. Curran Financial Partners LLC now owns 6,683 shares of the oil and gas company’s stock worth $1,118,000 after purchasing an additional 87 shares in the last quarter. Blue Trust Inc. increased its position in shares of Chevron by 6.2% during the first quarter. Blue Trust Inc. now owns 42,842 shares of the oil and gas company’s stock worth $7,167,000 after purchasing an additional 2,491 shares in the last quarter. DecisionMap Wealth Management LLC increased its position in shares of Chevron by 13.2% during the first quarter. DecisionMap Wealth Management LLC now owns 1,924 shares of the oil and gas company’s stock worth $322,000 after purchasing an additional 225 shares in the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Chevron by 3.7% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 8,310 shares of the oil and gas company’s stock worth $1,390,000 after purchasing an additional 295 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE:CVX opened at $153.12 on Friday. Chevron Corporation has a one year low of $132.04 and a one year 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 firm has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.00 and a beta of 0.84. The firm’s fifty day moving average is $156.03 and its two-hundred day moving average is $148.15.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating 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 company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The firm’s revenue was down 12.4% on a year-over-year basis. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. Scotiabank boosted 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, October 9th. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Raymond James Financial reissued an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday. Eleven equities research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.25.

About Chevron

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.