Apexium Financial LP Sells 2,457 Shares of Chevron Corporation $CVX

Key Points

• Apexium Financial LP reduced its shareholding in Chevron Corporation by 13.1%, selling 2,457 shares in Q2, leaving it with 16,344 shares worth approximately $2.34 million.
• Insider trades included a significant sale by Director John B. Hess, who sold 375,000 shares for over $59 million, reducing his ownership by 21.09%.
• Chevron recently announced a quarterly dividend of $1.71 per share, indicating a dividend yield of 4.5% and a payout ratio of 88.03%.

Apexium Financial LP decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 13.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,344 shares of the oil and gas company's stock after selling 2,457 shares during the period. Apexium Financial LP's holdings in Chevron were worth $2,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Greenfield Savings Bank raised its stake in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after purchasing an additional 68 shares during the period. Atwater Malick LLC raised its stake in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after purchasing an additional 68 shares during the period. GDS Wealth Management raised its stake in Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares during the period. AIMZ Investment Advisors LLC raised its stake in Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after purchasing an additional 72 shares during the period. Finally, Garde Capital Inc. raised its stake in Chevron by 3.2% during the second quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company's stock worth $337,000 after purchasing an additional 72 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred 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 owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction 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. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

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. The stock has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. The company has a 50 day moving average price of $156.23 and a 200 day moving average price of $149.09. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 earnings per share. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's payout ratio is 88.03%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Scotiabank reissued a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Bank of America boosted their price target on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Finally, Evercore ISI reissued an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $165.05.

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.

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