Chevron Corporation $CVX Shares Sold by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,502 shares of the oil and gas company’s stock after selling 176 shares during the period. Opal Wealth Advisors LLC’s holdings in Chevron were worth $358,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its holdings 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 acquiring an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron during the 1st quarter worth approximately $31,000. IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV increased its holdings in shares of 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 buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, 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 transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.16 on Tuesday. The company has a 50-day simple moving average of $155.33 and a 200-day simple moving average of $148.96. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 stock has a market capitalization of $269.84 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX) last announced 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current 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 issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Melius Research began coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Morgan Stanley began coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $165.05.

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.