Glass Jacobson Investment Advisors llc Has $54,000 Position in Chevron Corporation $CVX

Key Points

• Glass Jacobson Investment Advisors LLC reduced its stake in Chevron Corporation by 91.3% during the second quarter, holding only 375 shares worth approximately $54,000.
• Several institutional investors, like Harvest Fund Management Co. Ltd, have increased their positions in Chevron, with notable stakes rising by over 420%.
• Chevron recently reported an EPS of $1.77 for the last quarter, surpassing expectations, while its annualized dividend is now $6.84 with a yield of 4.4%.

Glass Jacobson Investment Advisors llc lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 91.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 375 shares of the oil and gas company's stock after selling 3,949 shares during the period. Glass Jacobson Investment Advisors llc's holdings in Chevron were worth $54,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its stake 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 worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron in the first quarter valued at approximately $31,000. IMG Wealth Management Inc. raised its position in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 91 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Chevron during the 1st quarter worth $39,000. Finally, Investment Management Corp VA ADV boosted its position in 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 buying an additional 149 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on CVX shares. Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a research note on Friday. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler lifted their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $165.25.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company'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 completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $155.63 on Friday. The stock's fifty day simple moving average is $156.04 and its 200 day simple moving average is $148.46. 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 company has a market capitalization of $268.92 billion, a PE ratio of 20.03, a PEG ratio of 4.42 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm 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 company's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's payout ratio 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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