Allen Mooney & Barnes Investment Advisors LLC Sells 1,577 Shares of Chevron Corporation $CVX

by · The Markets Daily

Allen Mooney & Barnes Investment Advisors LLC cut its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 8.1% during the 2nd quarter, Holdings Channel reports. The fund owned 17,888 shares of the oil and gas company’s stock after selling 1,577 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Chevron were worth $2,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd raised its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP bought a new stake in shares of Chevron during the 4th quarter valued at $29,000. Elequin Capital LP bought a new stake in shares of Chevron during the 1st quarter valued at $31,000. IFS Advisors LLC raised its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in Chevron in the 1st quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was 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 of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Melius Research began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. UBS Group lifted their price objective 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. Finally, Bank of America lifted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $164.80.

Check Out Our Latest Analysis on CVX

Chevron Price Performance

CVX stock opened at $157.23 on Monday. 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. The company has a 50-day moving average price of $154.67 and a 200 day moving average price of $148.79. The stock has a market cap of $271.69 billion, a PE ratio of 20.24, a P/E/G ratio of 1.98 and a beta of 0.90.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the company earned $2.55 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

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.

See Also

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