MBL Wealth LLC Sells 336 Shares of Chevron Corporation $CVX

MBL Wealth LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 5.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,384 shares of the oil and gas company’s stock after selling 336 shares during the quarter. MBL Wealth LLC’s holdings in Chevron were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Harvest Fund Management Co. Ltd grew its holdings 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 valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter worth $31,000. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV lifted its position in shares of 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 in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in shares of Chevron during the first quarter worth $43,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CVX shares. Scotiabank restated a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.05.

Chevron Trading Up 0.1%

Shares of CVX stock opened at $153.59 on Friday. 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 Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $265.40 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The business’s fifty day moving average is $156.23 and its 200 day moving average is $148.99.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for 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%.The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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