Chevron Corporation $CVX Shares Sold by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. cut its position in Chevron Corporation (NYSE:CVX) by 45.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380 shares of the oil and gas company’s stock after selling 323 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Chevron were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Scott & Selber Inc. increased its position in Chevron by 0.6% during the second quarter. Scott & Selber Inc. now owns 13,326 shares of the oil and gas company’s stock worth $1,908,000 after buying an additional 77 shares during the period. Genesis Private Wealth LLC grew its position in shares of Chevron by 5.4% during the second quarter. Genesis Private Wealth LLC now owns 1,963 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 101 shares during the last quarter. Walker Asset Management LLC increased its holdings in shares of Chevron by 2.4% in the 2nd quarter. Walker Asset Management LLC now owns 11,081 shares of the oil and gas company’s stock valued at $1,587,000 after acquiring an additional 258 shares during the period. Smith Salley Wealth Management increased its holdings in shares of Chevron by 1.5% in the 2nd quarter. Smith Salley Wealth Management now owns 126,360 shares of the oil and gas company’s stock valued at $18,093,000 after acquiring an additional 1,840 shares during the period. Finally, City Holding Co. raised its position in Chevron by 1.8% in the 2nd quarter. City Holding Co. now owns 39,428 shares of the oil and gas company’s stock valued at $5,645,000 after purchasing an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. 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 stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $165.05.

Chevron Trading Down 0.4%

Shares of CVX stock opened at $160.13 on Monday. The business’s fifty day moving average price is $156.04 and its 200 day moving average price is $149.10. The firm has a market capitalization of $276.70 billion, a PE ratio of 20.61, a P/E/G ratio of 2.00 and a beta of 0.90. 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 Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last issued its 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 net margin of 7.02% and a return on equity of 9.90%. The business’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Chevron Company 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.