Global Assets Advisory LLC Trims Position in Chevron Corporation $CVX

Global Assets Advisory LLC trimmed its stake in Chevron Corporation (NYSE:CVX) by 50.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,029 shares of the oil and gas company’s stock after selling 8,144 shares during the period. Global Assets Advisory LLC’s holdings in Chevron were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CVX. Sovereign Financial Group Inc. lifted its holdings in shares of Chevron by 7.7% in the 1st quarter. Sovereign Financial Group Inc. now owns 2,895 shares of the oil and gas company’s stock worth $484,000 after buying an additional 207 shares during the period. Congress Asset Management Co. raised its holdings in shares of Chevron by 0.8% in the first quarter. Congress Asset Management Co. now owns 83,034 shares of the oil and gas company’s stock valued at $13,891,000 after acquiring an additional 626 shares in the last quarter. Princeton Global Asset Management LLC lifted its stake in Chevron by 43.7% in the first quarter. Princeton Global Asset Management LLC now owns 1,602 shares of the oil and gas company’s stock worth $268,000 after acquiring an additional 487 shares during the period. Perennial Advisors LLC bought a new position in Chevron during the 1st quarter worth about $867,000. Finally, Wedmont Private Capital increased its position in Chevron by 9.2% during the 1st quarter. Wedmont Private Capital now owns 15,023 shares of the oil and gas company’s stock valued at $2,513,000 after purchasing an additional 1,261 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Melius began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Mizuho reduced their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $165.05.

Insiders Place Their Bets

In other Chevron 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 transaction 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 legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the 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 directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $153.59 on Monday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $265.40 billion, a PE ratio of 19.77, a P/E/G ratio of 1.99 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. The business has a 50-day simple moving average of $156.23 and a two-hundred day simple moving average of $148.87.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $44.59 billion. During the same period last year, the firm posted $2.55 EPS. Chevron’s revenue was down 12.4% on a year-over-year basis. As a group, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

About Chevron

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.