Allen Mooney & Barnes Investment Advisors LLC Trims Stake in Chevron Corporation $CVX

Allen Mooney & Barnes Investment Advisors LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,888 shares of the oil and gas company’s stock after selling 1,577 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Chevron were worth $2,561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd grew its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. 10Elms LLP purchased a new position in Chevron in the fourth quarter worth $29,000. Elequin Capital LP purchased a new position in Chevron in the first quarter worth $31,000. IFS Advisors LLC increased its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in Chevron during the first quarter valued at about $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale 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 company’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 completion of the sale, 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. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

Chevron stock opened at $157.23 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $154.67 and a 200-day moving average of $148.79. The firm has a market cap of $271.69 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.98 and a beta of 0.90. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last posted its 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 analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $164.80.

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.