Chevron Corporation $CVX Shares Sold by Quent Capital LLC

Quent Capital LLC cut its stake in Chevron Corporation (NYSE:CVX) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,454 shares of the oil and gas company’s stock after selling 207 shares during the quarter. Quent Capital LLC’s holdings in Chevron were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Kingstone Capital Partners Texas LLC increased its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE CVX opened at $153.59 on Friday. The company has a market cap of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.98 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a 50-day moving average of $156.23 and a two-hundred day moving average of $149.09. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

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. 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 was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Bank of America raised their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $165.05.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated 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 transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

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.