Chevron Corporation $CVX Shares Sold by Impact Capital Partners LLC

Impact Capital Partners LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,946 shares of the oil and gas company’s stock after selling 275 shares during the quarter. Impact Capital Partners LLC’s holdings in Chevron were worth $2,140,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Forza Wealth Management LLC lifted its holdings in shares of Chevron by 6.5% in the 2nd quarter. Forza Wealth Management LLC now owns 11,550 shares of the oil and gas company’s stock valued at $1,654,000 after buying an additional 700 shares during the period. Community Bank & Trust Waco Texas lifted its holdings in shares of Chevron by 0.7% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 47,007 shares of the oil and gas company’s stock valued at $6,731,000 after buying an additional 320 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of Chevron by 4.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 4,039 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 188 shares during the period. Columbia Asset Management lifted its holdings in shares of Chevron by 3.7% in the 2nd quarter. Columbia Asset Management now owns 34,896 shares of the oil and gas company’s stock valued at $4,997,000 after buying an additional 1,243 shares during the period. Finally, PBMares Wealth Management LLC lifted its holdings in shares of Chevron by 1.4% in the 2nd quarter. PBMares Wealth Management LLC now owns 5,315 shares of the oil and gas company’s stock valued at $761,000 after buying an additional 75 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CVX. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, UBS Group lifted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Eleven equities research 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, Chevron presently has an average rating of “Hold” and an average target price of $165.05.

Chevron Stock Performance

Chevron stock opened at $155.38 on Wednesday. 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 fifty day moving average of $156.27 and a two-hundred day moving average of $149.14. The company has a market capitalization of $268.50 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.95 and a beta of 0.90. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction 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 sale, the director owned 1,403,045 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction 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 directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is 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.