Investment Research & Advisory Group Inc. Trims Stock Position in Chevron Corporation $CVX

Investment Research & Advisory Group Inc. cut its holdings in Chevron Corporation (NYSE:CVX) by 45.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380 shares of the oil and gas company’s stock after selling 323 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Chevron were worth $54,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its position in Chevron by 420.7% during the 1st 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 in the last quarter. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth $31,000. IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Chevron in the first quarter valued at $39,000. Finally, Investment Management Corp VA ADV lifted its position in 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 buying an additional 149 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CVX. Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Finally, Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.05.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, 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 company’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.4%

Shares of CVX opened at $160.13 on Monday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock’s 50-day moving average is $156.04 and its two-hundred day moving average is $149.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market cap of $276.70 billion, a PE ratio of 20.61, a P/E/G ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last posted 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. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

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.