Chevron Corporation $CVX Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,596 shares of the oil and gas company’s stock after selling 1,176 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Chevron were worth $3,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its position in 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 acquiring an additional 122 shares during the last quarter. Elequin Capital LP acquired a new position in Chevron during the first quarter worth about $31,000. Cloud Capital Management LLC acquired a new position in Chevron during the first quarter worth about $39,000. Investment Management Corp VA ADV raised 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 acquiring an additional 149 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in Chevron during the first quarter worth about $45,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $153.59 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average price of $156.23 and a 200 day moving average price of $149.09. The company has a market cap of $265.40 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.98 and a beta of 0.84. 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 released 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Insider Buying and Selling

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 shares were sold at an average price of $160.00, for a total value 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. 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 can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s 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 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CVX shares. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Mizuho cut their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $165.05.

Chevron 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.