Carrera Capital Advisors Sells 652 Shares of Chevron Corporation $CVX

Carrera Capital Advisors decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,416 shares of the oil and gas company’s stock after selling 652 shares during the period. Carrera Capital Advisors’ holdings in Chevron were worth $632,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP bought a new stake in shares of Chevron during the 1st quarter worth approximately $31,000. IMG Wealth Management Inc. lifted its holdings in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Scotiabank increased their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Barclays decreased their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Down 0.6%

Chevron stock opened at $155.63 on Friday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $268.92 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84. The firm’s fifty day moving average price is $156.04 and its two-hundred day moving average price is $148.38. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

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

Chevron Dividend Announcement

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

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 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.