Lafayette Investments Inc. Sells 80 Shares of Chevron Corporation $CVX

Lafayette Investments Inc. lowered its position in shares of Chevron Corporation (NYSE:CVX) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,662 shares of the oil and gas company’s stock after selling 80 shares during the period. Lafayette Investments Inc.’s holdings in Chevron were worth $1,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. GAMMA Investing LLC lifted its position in shares of Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after acquiring an additional 6,928 shares in the last quarter. Genesee Capital Advisors LLC raised its stake in Chevron by 2.4% during the 1st quarter. Genesee Capital Advisors LLC now owns 4,559 shares of the oil and gas company’s stock valued at $763,000 after purchasing an additional 107 shares during the period. Cherry Creek Investment Advisors Inc. lifted its holdings in Chevron by 2.2% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 4,430 shares of the oil and gas company’s stock worth $741,000 after purchasing an additional 95 shares in the last quarter. 1858 Wealth Management LLC bought a new position in Chevron in the 1st quarter worth approximately $216,000. Finally, Crumly & Associates Inc. grew its holdings in Chevron by 4.3% during the 1st quarter. Crumly & Associates Inc. now owns 3,438 shares of the oil and gas company’s stock valued at $575,000 after buying an additional 143 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was 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 of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9%

Shares of CVX stock opened at $154.53 on Tuesday. The company has a market cap of $267.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock’s 50 day simple moving average is $156.05 and its two-hundred day simple moving average is $148.04. 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 announced 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the business earned $2.55 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. Research analysts predict 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 given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s payout ratio is 88.03%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CVX shares. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price target (down previously from $170.00) on shares of Chevron in a research note on Friday. Melius Research began coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Piper Sandler lifted their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, UBS Group boosted 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. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $165.25.

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.