Van Strum & Towne Inc. Sells 1,917 Shares of Chevron Corporation $CVX

Key Points

• Van Strum & Towne Inc. reduced its stake in Chevron Corporation by 9.3%, selling 1,917 shares and currently holding 18,728 shares valued at approximately $2.68 million.
• Chevron's quarterly earnings beat analysts' expectations by reporting $1.77 earnings per share, along with revenues of $44.82 billion, although revenue decreased by 12.4% compared to the previous year.
• The company has declared a quarterly dividend of $1.71 per share, reflecting an annualized dividend of $6.84 and a dividend yield of 4.6%.

Van Strum & Towne Inc. cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,728 shares of the oil and gas company's stock after selling 1,917 shares during the quarter. Van Strum & Towne Inc.'s holdings in Chevron were worth $2,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Greenfield Savings Bank boosted its stake in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC boosted its position in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock worth $1,443,000 after purchasing an additional 68 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Chevron by 4.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock worth $260,000 after purchasing an additional 71 shares in the last quarter. Finally, GDS Wealth Management boosted its position in shares of Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares in the last quarter. 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 stock in a transaction dated 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 transaction, the director owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were 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 in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

CVX opened at $149.11 on Friday. 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 stock has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.84. The company's 50-day simple moving average is $156.10 and its two-hundred day simple moving average is $148.67. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 earnings per share. As a group, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Barclays dropped their price target on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating on the stock in a research note on Tuesday. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Finally, UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $165.40.

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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