Pure Portfolios Holdings LLC Reduces Position in Chevron Corporation $CVX

Pure Portfolios Holdings LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 15.0% during the second quarter, Holdings Channel reports. The firm owned 3,291 shares of the oil and gas company’s stock after selling 581 shares during the quarter. Pure Portfolios Holdings LLC’s holdings in Chevron were worth $471,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Chevron in the first quarter valued at about $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter worth $39,000. Investment Management Corp VA ADV grew its position in 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 during the period. Finally, Cooksen Wealth LLC acquired a new stake in Chevron during the first quarter worth about $43,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Morgan Stanley assumed coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target on the stock. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Finally, TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $165.15.

Insiders Place Their Bets

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 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 in the company, valued at $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 is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.6%

Shares of CVX stock opened at $154.92 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $267.70 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.99 and a beta of 0.84. The company’s 50-day moving average price is $156.15 and its 200-day moving average price is $148.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced 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 return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

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.