BXM Wealth LLC Sells 2,151 Shares of Chevron Corporation $CVX

Key Points

• BXM Wealth LLC reduced its stake in Chevron Corporation by 20.1%, selling 2,151 shares and holding 8,570 shares valued at approximately $1.23 million.
• Director John B. Hess sold 375,000 shares of Chevron for over $59 million, representing a 21.09% decrease in his position.
• Chevron announced a quarterly dividend of $1.71 per share, yielding 4.5%, with a payout ratio of 88.03%.

BXM Wealth LLC decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 20.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,570 shares of the oil and gas company's stock after selling 2,151 shares during the quarter. Chevron makes up approximately 1.5% of BXM Wealth LLC's portfolio, making the stock its 21st largest holding. BXM Wealth LLC's holdings in Chevron were worth $1,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its position in shares of Chevron by 420.7% in 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 bought a new position in Chevron during the first quarter worth $31,000. Cloud Capital Management LLC bought a new position in Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV increased its position in 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 during the period. Finally, 1 North Wealth Services LLC bought a new position in Chevron during the first quarter worth $45,000. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction 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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction on Friday, August 29th. The shares were 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 in the company, valued at $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 currently owned by insiders.

Chevron Trading Down 0.3%

Shares of Chevron stock opened at $151.59 on Friday. The firm has a market capitalization of $261.95 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 2.00 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 company's fifty day moving average price is $156.07 and its two-hundred day moving average price is $148.25. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Announces Dividend

The company also recently announced 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 payout ratio is currently 88.03%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $165.40.

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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