Delta Investment Management LLC Sells 240 Shares of Chevron Corporation $CVX

Delta Investment Management LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 1.3% in the second quarter, HoldingsChannel reports. The firm owned 17,585 shares of the oil and gas company’s stock after selling 240 shares during the period. Delta Investment Management LLC’s holdings in Chevron were worth $2,518,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CVX. Greenfield Savings Bank increased its holdings in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC increased its holdings in shares of Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after acquiring an additional 68 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after acquiring an additional 70 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock valued at $260,000 after acquiring an additional 71 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.6%

CVX stock opened at $155.63 on Monday. The stock’s fifty day simple moving average is $156.04 and its two-hundred day simple moving average is $148.48. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market cap of $268.92 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.42 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. 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 payout ratio is currently 88.03%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% 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 insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Piper Sandler upped their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Friday. Finally, Mizuho decreased their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price 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.