Kingswood Wealth Advisors LLC Sells 9,855 Shares of Chevron Corporation $CVX

Key Points

• Kingswood Wealth Advisors LLC reduced its Chevron stake by 30.9%, selling 9,855 shares during the second quarter, leaving it with 22,063 shares valued at approximately $3.16 million.
• Chevron's stock received various analyst ratings, including a "hold" from Melius with a price target of $155, and an "outperform" from Evercore ISI with a price target of $180.
• Corporate insiders, including VP Alana K. Knowles and Director John B. Hess, have sold significant amounts of Chevron stock, with Knowles selling 3,978 shares and Hess liquidating 375,000 shares recently.

Kingswood Wealth Advisors LLC lessened its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 30.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,063 shares of the oil and gas company's stock after selling 9,855 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Chevron were worth $3,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC lifted its holdings in Chevron by 2.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 9,633 shares of the oil and gas company's stock valued at $1,611,000 after buying an additional 194 shares during the period. City Center Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at $232,000. Priebe Wealth Holdings LLC lifted its stake in shares of Chevron by 11.7% in the 1st quarter. Priebe Wealth Holdings LLC now owns 1,775 shares of the oil and gas company's stock valued at $297,000 after purchasing an additional 186 shares during the period. Cherrydale Wealth Management LLC bought a new position in shares of Chevron in the 1st quarter worth $244,000. Finally, Courier Capital LLC lifted its stake in Chevron by 0.5% in the first quarter. Courier Capital LLC now owns 62,072 shares of the oil and gas company's stock valued at $10,384,000 after buying an additional 302 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on CVX shares. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Melius Research assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $165.05.

Insider Buying and Selling

In related news, 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 value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated 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 directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Up 0.3%

NYSE:CVX opened at $153.99 on Tuesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average price is $156.19 and its two-hundred day moving average price is $148.80. The firm has a market capitalization of $266.09 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS 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 business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the company posted $2.55 earnings per share. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued 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 currently 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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