San Luis Wealth Advisors LLC Sells 3,824 Shares of Chevron Corporation $CVX

San Luis Wealth Advisors LLC trimmed its stake in Chevron Corporation (NYSE:CVX) by 38.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,026 shares of the oil and gas company’s stock after selling 3,824 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Chevron were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. CCG Wealth Management LLC increased its position in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after buying an additional 145 shares during the period. Ignite Planners LLC lifted its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. increased its stake in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 495 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its stake in shares of Chevron by 0.3% in the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after acquiring an additional 1,755 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.4%

CVX opened at $160.13 on Friday. 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 firm’s fifty day moving average is $156.04 and its two-hundred day moving average is $149.13. The firm has a market cap of $276.70 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.90. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly 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 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 the consensus estimate of $44.59 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the company’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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on 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 owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Piper Sandler upped their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. TD Cowen increased their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. 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, the company currently has a consensus rating of “Hold” and an average target price of $165.05.

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.