Chevron Corporation $CVX Shares Sold by Journey Advisory Group LLC

Journey Advisory Group LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 0.3% during the 2nd quarter, Holdings Channel reports. The fund owned 31,415 shares of the oil and gas company’s stock after selling 99 shares during the quarter. Journey Advisory Group LLC’s holdings in Chevron were worth $4,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bogart Wealth LLC lifted its holdings in Chevron by 5.1% in the second quarter. Bogart Wealth LLC now owns 86,435 shares of the oil and gas company’s stock worth $12,377,000 after purchasing an additional 4,190 shares during the period. Financial Perspectives Inc lifted its stake in shares of Chevron by 18.7% in the 2nd quarter. Financial Perspectives Inc now owns 2,015 shares of the oil and gas company’s stock worth $288,000 after acquiring an additional 318 shares during the period. Demars Financial Group LLC acquired a new stake in shares of Chevron in the 2nd quarter worth approximately $1,161,000. Canvas Wealth Advisors LLC boosted its holdings in shares of Chevron by 21.6% in the second quarter. Canvas Wealth Advisors LLC now owns 2,269 shares of the oil and gas company’s stock valued at $355,000 after acquiring an additional 403 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in Chevron by 11.9% during the second quarter. Princeton Global Asset Management LLC now owns 1,793 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on 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. Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday. Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Melius began coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $165.25.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred 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 approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Shares of CVX opened at $153.12 on Monday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $264.58 billion, a PE ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. The company’s 50 day moving average price is $156.03 and its 200 day moving average price is $147.96.

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

Chevron Announces Dividend

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

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.