Chevron Corporation $CVX Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC decreased its position in shares of Chevron Corporation (NYSE:CVX) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,692 shares of the oil and gas company’s stock after selling 952 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Chevron were worth $1,531,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Ignite Planners LLC raised its position in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its stake in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after purchasing an additional 495 shares in the last quarter. GW&K Investment Management LLC increased its stake in Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 318 shares in the last quarter. Mutual Advisors LLC increased its stake in Chevron by 7.3% in the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after purchasing an additional 6,058 shares in the last quarter. Finally, Costello Asset Management INC increased its stake in Chevron by 26.9% in the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after purchasing an additional 3,541 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. TD Cowen lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Morgan Stanley lifted their price target on Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company initiated coverage on Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $165.40.

Insider Activity at Chevron

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 stock was 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 owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $59,362,500.00. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.4%

NYSE:CVX opened at $153.36 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock’s 50-day moving average is $155.91 and its two-hundred day moving average is $149.43. The stock has a market cap of $265.00 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio is presently 96.20%.

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.