Chevron Corporation $CVX Shares Sold by Allen Wealth Management LLC

Allen Wealth Management LLC cut its position in shares of Chevron Corporation (NYSE:CVX) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,621 shares of the oil and gas company’s stock after selling 204 shares during the quarter. Chevron comprises 2.8% of Allen Wealth Management LLC’s portfolio, making the stock its 6th biggest position. Allen Wealth Management LLC’s holdings in Chevron were worth $3,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC grew its stake in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Chevron in the first quarter valued at about $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron in the first quarter valued at about $1,362,232,000. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after buying an additional 1,107,628 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVX. Morgan Stanley began coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. 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. TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.40.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was 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 in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Trading Down 1.7%

NYSE:CVX opened at $149.11 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $156.10 and its two-hundred day moving average is $148.67. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market cap of $257.66 billion, a PE ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.84.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping 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 company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. Chevron’s quarterly 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Chevron 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.