Bartlett & CO. Wealth Management LLC Trims Position in Chevron Corporation $CVX

Bartlett & CO. Wealth Management LLC lowered its position in shares of Chevron Corporation (NYSE:CVX) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 508,151 shares of the oil and gas company’s stock after selling 6,009 shares during the quarter. Chevron makes up approximately 1.0% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Bartlett & CO. Wealth Management LLC’s holdings in Chevron were worth $72,762,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth about $31,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV grew its holdings in Chevron by 171.3% in 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 purchasing an additional 149 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.4%

Shares of CVX opened at $154.64 on Thursday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a 50-day moving average price of $156.31 and a 200 day moving average price of $149.17. 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 $267.21 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.97 and a beta of 0.84.

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

Chevron Announces Dividend

The business also recently disclosed 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 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analyst Ratings Changes

A number of research firms have weighed in on CVX. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Finally, UBS Group boosted 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, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Chevron has an average rating of “Hold” and an average price target of $165.05.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron 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 owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.