CMG Global Holdings LLC Has $328,000 Stock Holdings in Chevron Corporation $CVX

CMG Global Holdings LLC lowered its position in shares of Chevron Corporation (NYSE:CVX) by 7.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,102 shares of the oil and gas company’s stock after selling 163 shares during the quarter. CMG Global Holdings LLC’s holdings in Chevron were worth $328,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its position in shares of Chevron by 420.7% in 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 bought a new stake in shares of Chevron in the first quarter valued at about $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth $39,000. Investment Management Corp VA ADV grew its holdings 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 purchasing an additional 149 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Chevron during the 2nd quarter worth $42,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $153.12 on Monday. The stock’s 50-day simple moving average is $156.03 and its 200 day simple moving average is $147.96. The firm has a market capitalization of $264.58 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. 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 twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Wells Fargo & Company assumed coverage on Chevron in a report on Friday. They set an “overweight” rating and a $190.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Finally, UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

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.