Chevron Corporation $CVX Shares Sold by Sandy Cove Advisors LLC

by · The Markets Daily

Sandy Cove Advisors LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 17.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,880 shares of the oil and gas company’s stock after selling 410 shares during the period. Sandy Cove Advisors LLC’s holdings in Chevron were worth $269,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Strategic Advocates LLC raised its holdings in Chevron by 3.8% in the 2nd quarter. Strategic Advocates LLC now owns 2,789 shares of the oil and gas company’s stock valued at $399,000 after acquiring an additional 101 shares during the last quarter. Juncture Wealth Strategies LLC raised its holdings in Chevron by 8.3% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 4,466 shares of the oil and gas company’s stock valued at $639,000 after acquiring an additional 343 shares during the last quarter. Davis Investment Partners LLC raised its holdings in Chevron by 5.5% in the 2nd quarter. Davis Investment Partners LLC now owns 6,228 shares of the oil and gas company’s stock valued at $907,000 after acquiring an additional 322 shares during the last quarter. Chemistry Wealth Management LLC raised its holdings in Chevron by 141.5% in the 2nd quarter. Chemistry Wealth Management LLC now owns 9,545 shares of the oil and gas company’s stock valued at $1,367,000 after acquiring an additional 5,593 shares during the last quarter. Finally, Avity Investment Management Inc. raised its holdings in Chevron by 8.7% in the 2nd quarter. Avity Investment Management Inc. now owns 191,544 shares of the oil and gas company’s stock valued at $27,427,000 after acquiring an additional 15,363 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s 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 completion of the sale, the vice president directly 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 filing with the SEC, which is available at 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 stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $157.46 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $272.09 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90. The company has a 50-day moving average price of $154.87 and a two-hundred day moving average price of $148.78.

Chevron (NYSE:CVX – Get Free Report) last posted 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. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced 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. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $165.05.

Get Our Latest Report on Chevron

Chevron Company 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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