Chevron Corporation $CVX Shares Sold by CGN Advisors LLC

Key Points

• CGN Advisors LLC reduced its stake in Chemvron Corporation by 10.4%, selling 3,003 shares and now holding a total of 25,902 shares valued at approximately $3.71 million.
• Chevron's recent earnings report showed an EPS of $1.77, exceeding analyst expectations, while revenue decreased 12.4% year-over-year.
• The company declared a quarterly dividend of $1.71 per share, resulting in a 4.4% dividend yield for shareholders.

CGN Advisors LLC decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,902 shares of the oil and gas company's stock after selling 3,003 shares during the quarter. CGN Advisors LLC's holdings in Chevron were worth $3,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Greenfield Savings Bank raised its stake in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. GDS Wealth Management increased its stake in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC increased its stake in shares of Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock valued at $298,000 after acquiring an additional 72 shares during the last quarter. Garde Capital Inc. increased its stake in shares of Chevron by 3.2% during the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company's stock valued at $337,000 after acquiring an additional 72 shares during the last quarter. Finally, Clayton Financial Group LLC increased its stake in shares of Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company'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 value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $156.16 on Tuesday. The stock has a market cap of $269.84 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $155.33 and a 200-day moving average of $148.96. 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 released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 EPS. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. UBS Group upped their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Finally, Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus 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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