Chevron Corporation $CVX Shares Sold by Southern Capital Advisors LLC

Southern Capital Advisors LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,891 shares of the oil and gas company’s stock after selling 146 shares during the period. Southern Capital Advisors LLC’s holdings in Chevron were worth $271,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted 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 worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth about $31,000. IFS Advisors LLC lifted 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 acquiring an additional 116 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV grew its holdings in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.1%

NYSE:CVX opened at $160.92 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The business’s 50-day moving average is $155.83 and its two-hundred day moving average is $149.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market capitalization of $278.08 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90.

Chevron (NYSE:CVX) last posted its 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. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Mizuho lowered their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Finally, Morgan Stanley assumed coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $165.05.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on 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 approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president 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. Insiders own 0.21% of the company’s stock.

About Chevron

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.