Tounjian Advisory Partners LLC Sells 312 Shares of Chevron Corporation $CVX

Tounjian Advisory Partners LLC lessened its position in shares of Chevron Corporation (NYSE:CVX) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,578 shares of the oil and gas company’s stock after selling 312 shares during the period. Tounjian Advisory Partners LLC’s holdings in Chevron were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at approximately $29,000. Elequin Capital LP acquired a new position in Chevron in the 1st quarter valued at approximately $31,000. IFS Advisors LLC increased its position in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in Chevron in the 1st quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.4%

Chevron stock opened at $159.56 on Wednesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $275.72 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. The firm’s fifty day moving average price is $155.00 and its two-hundred day moving average price is $148.86. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the firm earned $2.55 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were 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. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on CVX. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. TD Cowen upped their price target 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. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI restated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.