Chevron Corporation $CVX Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,747 shares of the oil and gas company's stock after selling 5,406 shares during the period. Procyon Advisors LLC's holdings in Chevron were worth $5,405,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Mirador Capital Partners LP increased its position in Chevron by 3.8% during the second quarter. Mirador Capital Partners LP now owns 108,775 shares of the oil and gas company's stock worth $15,575,000 after buying an additional 4,027 shares during the period. Goelzer Investment Management Inc. increased its position in Chevron by 5.5% during the second quarter. Goelzer Investment Management Inc. now owns 84,525 shares of the oil and gas company's stock worth $12,103,000 after buying an additional 4,433 shares during the period. Seneca House Advisors increased its position in Chevron by 5.0% during the second quarter. Seneca House Advisors now owns 5,525 shares of the oil and gas company's stock worth $791,000 after buying an additional 265 shares during the period. Westbourne Investments Inc. increased its position in Chevron by 269.5% during the second quarter. Westbourne Investments Inc. now owns 21,081 shares of the oil and gas company's stock worth $3,019,000 after buying an additional 15,375 shares during the period. Finally, Fermata Advisors LLC increased its position in Chevron by 13.9% during the second quarter. Fermata Advisors LLC now owns 11,133 shares of the oil and gas company's stock worth $1,594,000 after buying an additional 1,360 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI reissued an "outperform" rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Barclays reissued an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Melius started coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Finally, Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $165.05.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value 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 $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction on Friday, August 29th. The stock was 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 directly owned 1,181 shares of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

NYSE CVX opened at $159.56 on Wednesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $275.72 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. The business has a fifty day moving average of $155.00 and a 200-day moving average of $148.86. 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 released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is 88.03%.

About Chevron

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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