D.B. Root & Company LLC Sells 924 Shares of Chevron Corporation $CVX

D.B. Root & Company LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,893 shares of the oil and gas company’s stock after selling 924 shares during the period. D.B. Root & Company LLC’s holdings in Chevron were worth $844,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Capital Advisors Inc. OK lifted its position in shares of Chevron by 2.0% during the second quarter. Capital Advisors Inc. OK now owns 580,675 shares of the oil and gas company’s stock valued at $83,147,000 after purchasing an additional 11,417 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its position in shares of Chevron by 2.7% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,796 shares of the oil and gas company’s stock valued at $1,546,000 after purchasing an additional 285 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of Chevron by 6.4% during the second quarter. Belpointe Asset Management LLC now owns 24,551 shares of the oil and gas company’s stock valued at $3,516,000 after purchasing an additional 1,468 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its position in shares of Chevron by 0.3% during the second quarter. Asset Planning Services Inc. LA ADV now owns 43,705 shares of the oil and gas company’s stock valued at $6,258,000 after purchasing an additional 115 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of Chevron by 1.0% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 29,342 shares of the oil and gas company’s stock valued at $4,201,000 after purchasing an additional 286 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Mizuho dropped their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Stock Performance

Shares of CVX stock opened at $153.59 on Monday. The firm has a market cap of $265.40 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84. 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 52 week low of $132.04 and a 52 week high of $168.96. The firm’s 50-day simple moving average is $156.23 and its two-hundred day simple moving average is $148.87.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. The business had revenue of $44.82 billion for 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%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron 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 completion of the transaction, the vice president owned 1,181 shares in the company, valued at $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 is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.