Chevron Corporation $CVX Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 6.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,465 shares of the oil and gas company’s stock after selling 1,425 shares during the quarter. CFM Wealth Partners LLC’s holdings in Chevron were worth $3,074,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Tyche Wealth Partners LLC boosted its position in shares of Chevron by 0.7% in the 2nd quarter. Tyche Wealth Partners LLC now owns 33,706 shares of the oil and gas company’s stock worth $4,826,000 after purchasing an additional 229 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in shares of Chevron in the 2nd quarter worth $209,000. Bingham Private Wealth LLC boosted its position in shares of Chevron by 6.3% in the 2nd quarter. Bingham Private Wealth LLC now owns 6,943 shares of the oil and gas company’s stock worth $994,000 after purchasing an additional 409 shares in the last quarter. Clark & Stuart Inc boosted its position in shares of Chevron by 0.6% in the 2nd quarter. Clark & Stuart Inc now owns 15,527 shares of the oil and gas company’s stock worth $2,223,000 after purchasing an additional 100 shares in the last quarter. Finally, MADDEN SECURITIES Corp boosted its position in shares of Chevron by 0.7% in the 2nd quarter. MADDEN SECURITIES Corp now owns 33,802 shares of the oil and gas company’s stock worth $4,840,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $153.99 on Tuesday. The stock has a market cap of $266.09 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The business has a 50-day simple moving average of $156.19 and a 200-day simple moving average of $148.80. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.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 EPS. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s 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. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’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 completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, 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. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CVX. TD Cowen lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. 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’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $165.05.

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.