Optas LLC Has $251,000 Holdings in Chevron Corporation $CVX

by · The Markets Daily

Optas LLC cut its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,751 shares of the oil and gas company’s stock after selling 884 shares during the period. Optas LLC’s holdings in Chevron were worth $251,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd increased its holdings in 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 purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new stake in Chevron in the first quarter valued at $31,000. Cloud Capital Management LLC acquired a new stake in Chevron in the first quarter valued at $39,000. Investment Management Corp VA ADV increased its holdings in Chevron by 171.3% in the first 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. Finally, Cooksen Wealth LLC acquired a new stake in Chevron in the first quarter valued at $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value 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 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 dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVX. Melius began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. UBS Group upped their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $165.40.

Read Our Latest Analysis on CVX

Chevron Stock Performance

Shares of CVX opened at $151.63 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $262.02 billion, a PE ratio of 19.51, a P/E/G ratio of 1.98 and a beta of 0.84. The stock has a 50-day moving average of $156.15 and a 200-day moving average of $148.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

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

Chevron Announces Dividend

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 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio 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.

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