Exencial Wealth Advisors LLC Decreases Stock Holdings in Chevron Corporation $CVX

Exencial Wealth Advisors LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,418 shares of the oil and gas company’s stock after selling 3,800 shares during the period. Exencial Wealth Advisors LLC’s holdings in Chevron were worth $11,229,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the 1st quarter worth $31,000. IMG Wealth Management Inc. lifted its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth $39,000. Finally, Investment Management Corp VA ADV lifted its position in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

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 value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 sale, 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. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.80 on Wednesday. The company has a 50-day simple moving average of $156.04 and a 200-day simple moving average of $148.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 market capitalization of $265.76 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.06 and a beta of 0.84.

Chevron (NYSE:CVX) last announced its 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 net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company assumed coverage on shares of Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 price objective for the company. Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Scotiabank boosted their price target on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Finally, Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $165.25.

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.