CFM Wealth Partners LLC Cuts Position in Chevron Corporation $CVX

CFM Wealth Partners LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 6.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,465 shares of the oil and gas company’s stock after selling 1,425 shares during the quarter. CFM Wealth Partners LLC’s holdings in Chevron were worth $3,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Chevron in the 1st quarter valued at about $31,000. Cloud Capital Management LLC purchased a new stake in Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV increased its stake in 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 buying an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in Chevron during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CVX shares. Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Melius started coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average price target of $165.05.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $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. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.3%

Shares of Chevron stock opened at $153.99 on Tuesday. The stock has a market cap of $266.09 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84. The stock’s 50 day simple moving average is $156.19 and its 200-day simple moving average is $148.80. Chevron Corporation has a 1-year low of $132.04 and a 1-year 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.

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

Chevron Dividend Announcement

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

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.