Chevron Corporation $CVX Shares Sold by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,330 shares of the oil and gas company’s stock after selling 1,175 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Chevron were worth $908,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd increased 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 acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV increased its holdings in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $149.11 on Monday. The firm has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a PEG ratio of 1.93 and a beta of 0.84. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company’s fifty day moving average is $156.10 and its two-hundred day moving average is $148.41. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last issued its earnings results 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 for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s payout ratio is currently 88.03%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Mizuho lowered their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. 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 research report on Monday, August 18th. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.