Reliant Investment Partners LLC Sells 107 Shares of Chevron Corporation $CVX

by · The Cerbat Gem

Reliant Investment Partners LLC reduced its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,848 shares of the oil and gas company’s stock after selling 107 shares during the quarter. Reliant Investment Partners LLC’s holdings in Chevron were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP bought a new position in Chevron during the first quarter worth about $31,000. IMG Wealth Management Inc. raised its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Chevron in the 1st quarter valued at about $39,000. Finally, Investment Management Corp VA ADV boosted its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVX. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Wells Fargo & Company began coverage on Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. Finally, Bank of America boosted their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.25.

View Our Latest Analysis on CVX

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.1%

Shares of CVX stock opened at $155.38 on Tuesday. 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 Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $268.49 billion, a PE ratio of 20.00, a P/E/G ratio of 4.42 and a beta of 0.84. The stock’s fifty day moving average price is $156.03 and its two-hundred day moving average price is $148.55.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.55 EPS. Equities analysts predict 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. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is 88.03%.

Chevron Profile

(Free Report)

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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