Asset Advisors Investment Management LLC Sells 153 Shares of Chevron Corporation $CVX

Asset Advisors Investment Management LLC cut its stake in Chevron Corporation (NYSE:CVX) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,757 shares of the oil and gas company’s stock after selling 153 shares during the period. Asset Advisors Investment Management LLC’s holdings in Chevron were worth $395,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Greenfield Savings Bank grew its holdings in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its position in Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares during the period. GDS Wealth Management increased its position in Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 72 shares during the period. AIMZ Investment Advisors LLC increased its position in Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after purchasing an additional 72 shares during the period. Finally, Garde Capital Inc. increased its position in Chevron by 3.2% during the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 72 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVX. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Scotiabank reissued a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. 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 target price on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Stock Up 0.1%

NYSE:CVX opened at $153.59 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.98 and a beta of 0.84. 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 company’s 50-day simple moving average is $156.23 and its 200-day simple moving average is $149.09.

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, 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 for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the business earned $2.55 EPS. The company’s revenue was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were 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 trade represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred 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 directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% 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.