Apexium Financial LP Decreases Stake in Chevron Corporation $CVX

Apexium Financial LP lowered its position in Chevron Corporation (NYSE:CVX) by 13.1% in the second quarter, Holdings Channel reports. The fund owned 16,344 shares of the oil and gas company’s stock after selling 2,457 shares during the period. Apexium Financial LP’s holdings in Chevron were worth $2,340,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd lifted its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV lifted its position in shares of 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 during the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.1%

CVX stock opened at $153.59 on Friday. The company has a fifty day moving average price of $156.23 and a 200 day moving average price of $149.09. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market cap of $265.40 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. 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 released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Finally, TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $165.05.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction 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 transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. 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.