Harrell Investment Partners LLC Lowers Stock Holdings in Chevron Corporation $CVX

Harrell Investment Partners LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 27.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,062 shares of the oil and gas company’s stock after selling 3,778 shares during the quarter. Harrell Investment Partners LLC’s holdings in Chevron were worth $1,441,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its position in 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 acquired a new stake in Chevron in the 1st quarter valued at about $31,000. IFS Advisors LLC raised its position in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at about $39,000. Finally, Investment Management Corp VA ADV raised its position in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Barclays reissued an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Morgan Stanley initiated coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. UBS Group raised their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Trading Up 1.1%

CVX opened at $159.15 on Thursday. The firm has a market cap of $275.00 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business’s 50 day moving average is $155.64 and its two-hundred day moving average is $149.09. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron’s payout ratio is 88.03%.

Insider Activity at Chevron

In other news, 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 value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’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 value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About Chevron

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.