Chevron Corporation $CVX Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 4.0% in the 2nd quarter, Holdings Channel reports. The firm owned 247,769 shares of the oil and gas company’s stock after selling 10,274 shares during the period. United Capital Financial Advisors LLC’s holdings in Chevron were worth $41,070,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $25,000. Main Street Group LTD purchased a new position in Chevron in the 1st quarter valued at approximately $28,000. Phillip James Consulting Co. purchased a new stake in Chevron in the 4th quarter valued at approximately $26,000. Kilter Group LLC purchased a new position in shares of Chevron during the second quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth approximately $26,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last quarter. Company insiders own 0.56% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $199.91 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The company’s fifty day moving average is $186.87 and its two-hundred day moving average is $188.76. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The firm has a market capitalization of $394.98 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. Equities research analysts forecast that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.6%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. Barclays cut their price objective on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler began coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target on the stock. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $207.48.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.