Chevron Corporation $CVX Shares Sold by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services LLC reduced its holdings in Chevron Corporation by 16.4% in Q2, selling 6,012 shares and bringing their total shares to 30,560 worth approximately $4.38 million.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding analysts' expectations of $1.58, although revenue decreased by 12.4% year-over-year.
• The company announced a quarterly dividend of $1.71, providing an annualized yield of 4.5% with a payout ratio of 88.03%.

Ameritas Advisory Services LLC trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 16.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,560 shares of the oil and gas company's stock after selling 6,012 shares during the period. Ameritas Advisory Services LLC's holdings in Chevron were worth $4,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. HF Advisory Group LLC purchased a new stake in shares of Chevron in the first quarter valued at about $204,000. Breakwater Capital Group grew its holdings in shares of Chevron by 28.9% in the first quarter. Breakwater Capital Group now owns 4,387 shares of the oil and gas company's stock valued at $734,000 after purchasing an additional 983 shares during the period. West Coast Financial LLC purchased a new stake in shares of Chevron in the first quarter valued at about $205,000. Fjell Capital LLC grew its holdings in shares of Chevron by 28.5% in the first quarter. Fjell Capital LLC now owns 7,899 shares of the oil and gas company's stock valued at $1,321,000 after purchasing an additional 1,754 shares during the period. Finally, Foster Group Inc. grew its holdings in shares of Chevron by 26.5% in the first quarter. Foster Group Inc. now owns 3,669 shares of the oil and gas company's stock valued at $614,000 after purchasing an additional 769 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.1%

Shares of NYSE:CVX opened at $153.59 on Friday. The firm's 50 day moving average price is $156.23 and its 200 day moving average price is $149.09. The stock has a market cap of $265.40 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last issued 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 firm had revenue of $44.82 billion for 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 firm's revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share 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 issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron's dividend payout ratio (DPR) is 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred 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 directly owned 1,181 shares in the company, valued at approximately $188,960. This trade 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 company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a report on Saturday, September 27th. Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They set an "overweight" rating and a $174.00 target price for the company. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Eleven equities 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 currently has an average rating of "Hold" and an average price target of $165.05.

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.

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