MKT Advisors LLC Sells 209 Shares of Chevron Corporation $CVX

MKT Advisors LLC reduced its position in Chevron Corporation (NYSE:CVX) by 6.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,152 shares of the oil and gas company’s stock after selling 209 shares during the period. MKT Advisors LLC’s holdings in Chevron were worth $459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Invesco Ltd. raised its stake in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after buying an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after buying an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC acquired a new stake in Chevron in the first quarter worth about $1,466,751,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Bank of America lifted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Performance

NYSE CVX opened at $160.92 on Friday. The firm has a market capitalization of $278.08 billion, a P/E ratio of 20.71, a PEG ratio of 1.99 and a beta of 0.90. The stock has a 50-day simple moving average of $155.83 and a two-hundred day simple moving average of $149.11. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last posted its 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 firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the company earned $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio is 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Chevron 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.