Revolve Wealth Partners LLC Cuts Stake in Chevron Corporation $CVX

Revolve Wealth Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,811 shares of the oil and gas company’s stock after selling 421 shares during the period. Revolve Wealth Partners LLC’s holdings in Chevron were worth $402,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVX. Elefante Mark B increased its position in shares of Chevron by 1.7% in the 2nd quarter. Elefante Mark B now owns 19,708 shares of the oil and gas company’s stock valued at $2,822,000 after acquiring an additional 325 shares during the period. Jag Capital Management LLC raised its stake in Chevron by 18.8% in the 2nd quarter. Jag Capital Management LLC now owns 1,436 shares of the oil and gas company’s stock worth $206,000 after acquiring an additional 227 shares during the last quarter. Cornerstone Wealth Group LLC raised its stake in Chevron by 0.7% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 54,672 shares of the oil and gas company’s stock worth $7,828,000 after acquiring an additional 356 shares during the last quarter. Heartland Bank & Trust Co raised its stake in Chevron by 8.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 7,118 shares of the oil and gas company’s stock worth $1,019,000 after acquiring an additional 581 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in Chevron by 1.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 34,060 shares of the oil and gas company’s stock worth $4,877,000 after acquiring an additional 629 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated 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 owned 1,181 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $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 owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Wells Fargo & Company restated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Finally, UBS Group boosted 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. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Chevron has an average rating of “Hold” and an average target price of $165.40.

Chevron Stock Up 2.0%

CVX stock opened at $151.86 on Tuesday. The stock has a market capitalization of $262.42 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.93 and a beta of 0.84. The firm has a 50-day simple moving average of $156.12 and a 200-day simple moving average of $148.31. 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 Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

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

Chevron Announces Dividend

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

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.