Chevron Corporation $CVX Shares Sold by Capasso Planning Partners LLC

Capasso Planning Partners LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 12.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,632 shares of the oil and gas company’s stock after selling 374 shares during the period. Capasso Planning Partners LLC’s holdings in Chevron were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd raised its holdings in shares of 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 valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron in the 1st quarter valued at about $31,000. Quaker Wealth Management LLC grew its position in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares in the last quarter. IMG Wealth Management Inc. increased its stake in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. Finally, Investment Management Corp VA ADV lifted its position in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on 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 owned 1,181 shares in the company, valued at $188,960. The trade was 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 through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Chevron Price Performance

Chevron stock opened at $155.10 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $155.55 and a 200-day simple moving average of $149.62. The stock has a market cap of $268.01 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.48 earnings per share. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Piper Sandler lifted their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Scotiabank upped their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Bank of America lifted their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Raymond James Financial restated an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $165.40.

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.