Chevron Corporation $CVX Shares Sold by Lee Kelleher Wealth Management

Lee Kelleher Wealth Management lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,005 shares of the oil and gas company’s stock after selling 424 shares during the quarter. Lee Kelleher Wealth Management’s holdings in Chevron were worth $287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Chevron during the first quarter worth about $31,000. IFS Advisors LLC lifted its stake in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of Chevron during the first quarter worth about $39,000. Finally, Investment Management Corp VA ADV lifted its stake in shares of Chevron by 171.3% during the first 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 in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target on the stock. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Stock Down 1.7%

NYSE:CVX opened at $156.11 on Monday. The firm has a market capitalization of $269.76 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The stock has a 50 day moving average of $155.24 and a 200-day moving average of $148.96. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping 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 business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company posted $2.55 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

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.