Equitable Holdings Inc. Sells 12,735 Shares of Chevron Corporation $CVX

Equitable Holdings Inc. lessened its stake in Chevron Corporation (NYSE:CVX) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,541 shares of the oil and gas company’s stock after selling 12,735 shares during the period. Equitable Holdings Inc.’s holdings in Chevron were worth $18,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CVX. Blue Capital Inc. acquired a new stake in shares of Chevron in the second quarter valued at about $786,000. OneAscent Wealth Management LLC acquired a new position in Chevron during the second quarter worth about $973,000. Global Retirement Partners LLC acquired a new position in Chevron during the second quarter worth about $14,276,000. Indivisible Partners acquired a new position in Chevron during the fourth quarter worth about $1,923,000. Finally, Janney Montgomery Scott LLC grew its stake in Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred 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 approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $199.91 on Friday. The firm has a market cap of $394.98 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The business’s fifty day simple moving average is $186.87 and its 200-day simple moving average is $188.76.

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

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on CVX shares. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Barclays dropped their price target 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. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Finally, Morgan Stanley upped their target price on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Twenty 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.