Graves Light Lenhart Wealth Inc. Decreases Stake in Chevron Corporation $CVX

Graves Light Lenhart Wealth Inc. lowered its position in Chevron Corporation (NYSE:CVX - Free Report) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,322 shares of the oil and gas company's stock after selling 2,006 shares during the quarter. Graves Light Lenhart Wealth Inc.'s holdings in Chevron were worth $5,630,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Mirador Capital Partners LP lifted its stake in Chevron by 3.8% in 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 acquiring an additional 4,027 shares during the last quarter. Goelzer Investment Management Inc. lifted its stake in Chevron by 5.5% in 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 acquiring an additional 4,433 shares during the last quarter. Seneca House Advisors lifted its position in shares of Chevron by 5.0% during the 2nd 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 last quarter. Westbourne Investments Inc. lifted its position in shares of Chevron by 269.5% during the 2nd 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 last quarter. Finally, Fermata Advisors LLC lifted its position in shares of Chevron by 13.9% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

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

Chevron Price Performance

Shares of NYSE CVX opened at $159.56 on Wednesday. The firm has a market capitalization of $275.72 billion, a P/E ratio of 20.54, a PEG ratio of 1.97 and a beta of 0.90. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company's fifty day moving average is $155.00 and its two-hundred day moving average is $148.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business'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 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's payout ratio is presently 88.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVX. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $165.05.

Chevron 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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