Chevron Corporation $CVX Shares Sold by IFC Advisors LLC

IFC Advisors LLC decreased its position in Chevron Corporation (NYSE:CVX) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,960 shares of the oil and gas company’s stock after selling 395 shares during the quarter. IFC Advisors LLC’s holdings in Chevron were worth $2,285,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Chevron by 27.3% during the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after buying an additional 6,928 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Chevron by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock worth $189,666,000 after buying an additional 104,103 shares during the last quarter. Stewardship Advisors LLC bought a new position in Chevron during the 1st quarter worth $203,000. Keystone Wealth Services LLC bought a new position in Chevron during the 1st quarter worth $236,000. Finally, Crane Advisory LLC grew its stake in Chevron by 25.2% during the 1st quarter. Crane Advisory LLC now owns 2,821 shares of the oil and gas company’s stock worth $472,000 after buying an additional 567 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. TD Cowen upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. 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. Morgan Stanley started 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. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Finally, Barclays reduced their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $165.40.

Chevron Trading Up 2.0%

Shares of Chevron stock opened at $151.86 on Tuesday. 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 firm has a market cap of $262.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The business has a fifty day simple moving average of $156.12 and a 200-day simple moving average of $148.31. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate 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 was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS 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 issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio is 88.03%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s 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 in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 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 approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% 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.