Chevron Corporation $CVX Shares Sold by Mainstream Capital Management LLC

Mainstream Capital Management LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 15.9% in the second quarter, HoldingsChannel reports. The fund owned 5,365 shares of the oil and gas company’s stock after selling 1,012 shares during the period. Mainstream Capital Management LLC’s holdings in Chevron were worth $768,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Bank Pictet & Cie Europe AG boosted its holdings in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Two Sigma Investments LP lifted its position in Chevron by 84.5% in the fourth quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company’s stock worth $5,094,000 after purchasing an additional 16,104 shares during the period. Virtue Capital Management LLC boosted its stake in Chevron by 10.8% during the 4th quarter. Virtue Capital Management LLC now owns 3,223 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 314 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Chevron in the 4th quarter worth $77,000. Finally, LifeWealth Investments LLC bought a new position in Chevron during the fourth quarter valued at about $211,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $157.29 on Wednesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. 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 market capitalization of $271.80 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.96 and a beta of 0.90. The stock’s fifty day simple moving average is $155.46 and its 200-day simple moving average is $149.02.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the business posted $2.55 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal 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 of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s payout ratio is presently 88.03%.

Insider Buying and Selling

In other 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 transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Scotiabank restated a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.05.

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.