Chevron Corporation $CVX Shares Sold by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC reduced its stake in Chevron Corporation by 23.9%, selling 5,976 shares, with holdings valued at approximately $2.7 million.
• Chevron's stock price saw little change, down 0.4%, with a current value of $160.13 per share.
• The company recently declared a quarterly dividend of $1.71 per share, representing an annualized amount of $6.84 and a yield of 4.3%.

Avior Wealth Management LLC cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,038 shares of the oil and gas company's stock after selling 5,976 shares during the quarter. Avior Wealth Management LLC's holdings in Chevron were worth $2,726,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd grew its position in 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 worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter worth $31,000. IFS Advisors LLC raised its position in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the first quarter valued at $39,000. Finally, Investment Management Corp VA ADV boosted its position in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated 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 directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the 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 transaction, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Barclays restated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Evercore ISI restated an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Finally, Morgan Stanley started coverage on Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus target price of $165.05.

Chevron Stock Down 0.4%

Chevron stock opened at $160.13 on Monday. 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 firm has a fifty day moving average price of $156.04 and a two-hundred day moving average price of $149.10. The firm has a market cap of $276.70 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 2.00 and a beta of 0.90. 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 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

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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