Kathmere Capital Management LLC Cuts Stock Holdings in Chevron Corporation $CVX

Kathmere Capital Management LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 22.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,208 shares of the oil and gas company’s stock after selling 1,243 shares during the quarter. Kathmere Capital Management LLC’s holdings in Chevron were worth $602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Spartan Planning & Wealth Management acquired a new stake in Chevron during the 1st quarter worth $484,000. Rothschild Investment LLC boosted its stake in Chevron by 0.5% during the 1st quarter. Rothschild Investment LLC now owns 135,143 shares of the oil and gas company’s stock worth $22,608,000 after purchasing an additional 660 shares during the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth $2,535,000. Burns J W & Co. Inc. NY boosted its position in shares of Chevron by 3.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 79,641 shares of the oil and gas company’s stock valued at $13,323,000 after acquiring an additional 2,426 shares during the last quarter. Finally, Somerset Trust Co boosted its position in shares of Chevron by 2.5% during the 1st quarter. Somerset Trust Co now owns 15,120 shares of the oil and gas company’s stock valued at $2,529,000 after acquiring an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.4%

CVX stock opened at $160.13 on Friday. The company’s 50 day moving average price is $156.04 and its 200 day moving average price is $149.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $276.70 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90.

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

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank reissued a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. 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. Finally, Mizuho cut their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.05.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the company’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 completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’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 of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.