TFB Advisors LLC Lowers Stock Holdings in Chevron Corporation $CVX

TFB Advisors LLC lessened its position in shares of Chevron Corporation (NYSE:CVX) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,609 shares of the oil and gas company’s stock after selling 235 shares during the period. TFB Advisors LLC’s holdings in Chevron were worth $374,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its position in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP purchased a new stake in Chevron during the first quarter valued at about $31,000. Cloud Capital Management LLC purchased a new stake in Chevron during the first quarter valued at about $39,000. Investment Management Corp VA ADV grew its position in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the period. Finally, IMG Wealth Management Inc. grew its position in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.1%

NYSE:CVX opened at $155.45 on Thursday. 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 one year low of $132.04 and a one year high of $168.96. The business’s 50-day simple moving average is $156.03 and its 200 day simple moving average is $148.13. The stock has a market cap of $268.61 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.05 and a beta of 0.84.

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, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. The company’s revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Wells Fargo & Company started coverage on Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 price target for the company. Melius started coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.25.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.