Sandbox Financial Partners LLC Reduces Stock Position in Chevron Corporation $CVX

Sandbox Financial Partners LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 1.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,764 shares of the oil and gas company’s stock after selling 73 shares during the period. Sandbox Financial Partners LLC’s holdings in Chevron were worth $825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Greenfield Savings Bank raised its stake in shares of Chevron by 0.6% during the 2nd 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 in the last quarter. GDS Wealth Management raised its stake in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC raised its stake in shares of Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 72 shares in the last quarter. Garde Capital Inc. raised its stake in shares of Chevron by 3.2% during the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 72 shares in the last quarter. Finally, Clayton Financial Group LLC increased its stake in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 75 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the firm’s 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 sale, the director owned 1,403,045 shares of the company’s stock, 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. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Melius started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Stock Performance

NYSE:CVX opened at $157.46 on Tuesday. 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 company has a fifty day moving average of $154.87 and a two-hundred day moving average of $148.78. The stock has a market capitalization of $272.09 billion, a PE ratio of 20.27, a P/E/G ratio of 1.98 and a beta of 0.90. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given 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 was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Chevron Company 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.