Chevron Corporation $CVX Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc reduced its holdings in Chevron Corporation (NYSE:CVX) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,768 shares of the oil and gas company’s stock after selling 374 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Chevron were worth $253,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Fiduciary Alliance LLC increased its stake in Chevron by 24.6% in the 2nd quarter. Fiduciary Alliance LLC now owns 20,258 shares of the oil and gas company’s stock valued at $2,901,000 after purchasing an additional 4,000 shares in the last quarter. St. Louis Financial Planners Asset Management LLC increased its stake in Chevron by 21.9% in the 2nd quarter. St. Louis Financial Planners Asset Management LLC now owns 18,462 shares of the oil and gas company’s stock valued at $2,644,000 after purchasing an additional 3,311 shares in the last quarter. Norman Fields Gottscho Capital Management LLC purchased a new position in Chevron in the 2nd quarter valued at approximately $254,000. Central Bank & Trust Co. increased its stake in Chevron by 1.9% in the 2nd quarter. Central Bank & Trust Co. now owns 5,638 shares of the oil and gas company’s stock valued at $807,000 after purchasing an additional 103 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC increased its stake in Chevron by 6.3% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 3,301 shares of the oil and gas company’s stock valued at $473,000 after purchasing an additional 197 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. UBS Group raised their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.05.

Chevron Price Performance

CVX stock opened at $159.56 on Wednesday. The stock has a 50-day moving average price of $155.00 and a two-hundred day moving average price of $148.86. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 company has a market cap of $275.72 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS 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 given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

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.