Chevron Corporation $CVX Shares Sold by Iams Wealth Management LLC

Key Points

• Iams Wealth Management LLC decreased its holdings in Chevron Corporation by 31.6%, selling 3,744 shares and retaining 8,118 shares worth approximately $1.16 million.
• Institutional investors have exhibited varying changes in their positions, with Kingstone Capital Partners significantly increasing its stake by 652,139.5% during the same period.
• Chevron announced a quarterly dividend of $1.71 per share, reflecting a 4.4% dividend yield, with a payout ratio of 88.03%.

Iams Wealth Management LLC decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 31.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,118 shares of the oil and gas company's stock after selling 3,744 shares during the quarter. Iams Wealth Management LLC's holdings in Chevron were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Sage Capital Advisors llc increased its stake in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares during the last quarter. CCG Wealth Management LLC boosted its holdings in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares during the period. Ignite Planners LLC boosted its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares during the period. Vista Capital Partners Inc. boosted its holdings in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after purchasing an additional 675 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

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 approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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. The trade was 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.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. UBS Group lifted their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $165.05.

Chevron Stock Down 0.0%

NYSE CVX traded down $0.05 on Monday, reaching $156.16. 5,178,093 shares of the stock traded hands, compared to its average volume of 7,668,525. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a fifty day moving average price of $155.33 and a 200-day moving average price of $148.96. The company has a market cap of $269.84 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.96 and a beta of 0.90. 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 released its quarterly 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 firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS 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 given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is presently 88.03%.

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.