Legacy Capital Wealth Partners LLC Sells 1,920 Shares of Chevron Corporation $CVX

by · The Markets Daily

Legacy Capital Wealth Partners LLC reduced its stake in Chevron Corporation (NYSE:CVX – Free Report) by 15.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,213 shares of the oil and gas company’s stock after selling 1,920 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Chevron were worth $1,462,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pursue Wealth Partners LLC bought a new stake in Chevron in the 2nd quarter worth about $782,000. West Family Investments Inc. grew its holdings in shares of Chevron by 101.5% in the second quarter. West Family Investments Inc. now owns 9,374 shares of the oil and gas company’s stock valued at $1,342,000 after acquiring an additional 4,722 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Chevron by 6.5% during the second quarter. Schroder Investment Management Group now owns 1,239,804 shares of the oil and gas company’s stock valued at $177,528,000 after acquiring an additional 75,445 shares during the last quarter. Norges Bank bought a new stake in Chevron during the second quarter worth $2,721,477,000. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Chevron by 3.9% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 3,635 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 135 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Morgan Stanley raised their price target on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, UBS Group raised their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $165.58.

View Our Latest Report on CVX

Chevron Trading Up 1.1%

Shares of Chevron stock opened at $151.21 on Friday. The company’s 50-day moving average price is $153.97 and its 200-day moving average price is $151.16. The company has a market cap of $304.46 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month 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.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the firm posted $2.48 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

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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