Consolidated Portfolio Review Corp Trims Stake in Chevron Corporation $CVX

Consolidated Portfolio Review Corp cut its stake in Chevron Corporation (NYSE:CVX) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,728 shares of the oil and gas company’s stock after selling 98 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Chevron were worth $1,679,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Fragasso Financial Advisors Inc raised its holdings in Chevron by 11.2% in the first quarter. Fragasso Financial Advisors Inc now owns 2,142 shares of the oil and gas company’s stock worth $358,000 after purchasing an additional 215 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Chevron by 18.0% in the 1st quarter. Merit Financial Group LLC now owns 96,409 shares of the oil and gas company’s stock worth $16,128,000 after buying an additional 14,712 shares during the period. HBW Advisory Services LLC grew its position in shares of Chevron by 9.8% in the 1st quarter. HBW Advisory Services LLC now owns 19,743 shares of the oil and gas company’s stock worth $3,303,000 after buying an additional 1,759 shares during the period. Capital Asset Advisory Services LLC increased its stake in shares of Chevron by 4.2% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,724 shares of the oil and gas company’s stock worth $4,449,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Leibman Financial Services Inc. lifted its position in Chevron by 6.0% during the 1st quarter. Leibman Financial Services Inc. now owns 19,573 shares of the oil and gas company’s stock valued at $3,274,000 after acquiring an additional 1,107 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVX. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.05.

Chevron Trading Down 0.5%

Shares of NYSE:CVX opened at $155.38 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market cap of $268.50 billion, a P/E ratio of 20.00, a PEG ratio of 1.95 and a beta of 0.90. The stock’s fifty day moving average price is $156.27 and its 200-day moving average price is $149.14.

Chevron (NYSE:CVX) last released 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 company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 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 12.4% on a year-over-year basis. During the same period last year, the company earned $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given 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 yield of 4.4%. Chevron’s dividend payout ratio is 88.03%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was 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 owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate 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.