Krilogy Financial LLC Sells 3,673 Shares of Chevron Corporation $CVX

Key Points

• Krilogy Financial LLC sold 3,673 shares of Chevron Corporation during the second quarter, reducing its holdings by 25.5% to 10,743 shares, valued at approximately $1.54 million.
• Chevron announced a quarterly dividend of $1.71 per share, yielding 4.3%, with an ex-dividend date on August 19th, maintaining a payout ratio of 88.03%.
• Chevron's stock has seen various analyst ratings, with Morgan Stanley setting a target price of $174.00 and UBS raising their target from $186.00 to $197.00, reflecting overall confidence in the stock despite a recent drop in revenue.

Krilogy Financial LLC decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 25.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,743 shares of the oil and gas company's stock after selling 3,673 shares during the period. Krilogy Financial LLC's holdings in Chevron were worth $1,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP bought a new position in shares of Chevron during the fourth quarter valued at about $29,000. Elequin Capital LP purchased a new position in shares of Chevron in the first quarter worth about $31,000. IFS Advisors LLC lifted its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter valued at about $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVX shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. UBS Group increased their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Mizuho cut their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a report on Monday. Finally, Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of "Hold" and an average price target of $165.05.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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 $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm'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 transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Chevron stock opened at $159.56 on Wednesday. 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 company 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. The stock's 50 day moving average is $155.00 and its 200 day moving average is $148.86.

Chevron (NYSE:CVX - Get Free Report) last released 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the company posted $2.55 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend 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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