Ethos Financial Group LLC Sells 2,001 Shares of Chevron Corporation $CVX

Ethos Financial Group LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 35.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,612 shares of the oil and gas company’s stock after selling 2,001 shares during the period. Ethos Financial Group LLC’s holdings in Chevron were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Stone House Investment Management LLC boosted its stake in Chevron by 10.9% in the second quarter. Stone House Investment Management LLC now owns 1,160 shares of the oil and gas company’s stock valued at $166,000 after acquiring an additional 114 shares in the last quarter. Climber Capital SA purchased a new stake in Chevron in the second quarter valued at $242,000. Resona Asset Management Co. Ltd. grew its holdings in Chevron by 3.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 586,615 shares of the oil and gas company’s stock worth $84,055,000 after acquiring an additional 19,001 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Chevron by 39.1% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 113,982 shares of the oil and gas company’s stock worth $16,321,000 after purchasing an additional 32,048 shares during the period. Finally, Asahi Life Asset Management CO. LTD. grew its position in Chevron by 0.9% during the second quarter. Asahi Life Asset Management CO. LTD. now owns 10,362 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 94 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $155.10 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market capitalization of $268.01 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The business’s fifty day moving average price is $155.55 and its 200 day moving average price is $149.62.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the business earned $2.48 EPS. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’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 transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company initiated coverage on Chevron in a research report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Finally, UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. One 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $165.40.

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.