Chevron Corporation $CVX Shares Sold by Veracity Capital LLC

by · The Markets Daily

Veracity Capital LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 4,295 shares of the oil and gas company’s stock after selling 331 shares during the period. Veracity Capital LLC’s holdings in Chevron were worth $615,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CVX. Key Client Fiduciary Advisors LLC lifted its position in Chevron by 6.3% in the second quarter. Key Client Fiduciary Advisors LLC now owns 3,301 shares of the oil and gas company’s stock valued at $473,000 after purchasing an additional 197 shares during the period. Czech National Bank boosted its position in shares of Chevron by 3.4% in the 2nd quarter. Czech National Bank now owns 396,970 shares of the oil and gas company’s stock worth $56,842,000 after buying an additional 13,100 shares in the last quarter. Strategic Advocates LLC boosted its position in shares of Chevron by 3.8% in the 2nd quarter. Strategic Advocates LLC now owns 2,789 shares of the oil and gas company’s stock worth $399,000 after buying an additional 101 shares in the last quarter. Juncture Wealth Strategies LLC boosted its position in shares of 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 worth $639,000 after buying an additional 343 shares in the last quarter. Finally, Davis Investment Partners LLC lifted 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 purchasing an additional 322 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVX shares. UBS Group upped their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Finally, Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $165.05.

View Our Latest Stock Analysis on CVX

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’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 completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% 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 Up 0.2%

NYSE CVX opened at $157.46 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company 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 business’s fifty day moving average is $154.87 and its 200 day moving average is $148.78.

Chevron (NYSE:CVX – Get Free Report) last announced 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 for 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%.The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 EPS. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

About Chevron

(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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