Chevron Corporation $CVX Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA cut its stake in shares of Chevron Corporation (NYSE:CVX) by 0.5% in the second quarter, HoldingsChannel.com reports. The fund owned 22,234 shares of the oil and gas company’s stock after selling 120 shares during the period. Jacobs & Co. CA’s holdings in Chevron were worth $3,183,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. 10Elms LLP purchased a new stake in shares of Chevron during the fourth quarter worth $29,000. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter worth $31,000. IFS Advisors LLC grew its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the first quarter worth $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Melius started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $164.80.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the business’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’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 $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Chevron Trading Down 0.6%

Shares of CVX opened at $157.23 on Friday. 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 Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a 50-day moving average price of $154.67 and a 200 day moving average price of $148.89. The firm has a market capitalization of $271.69 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the firm posted $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Chevron Company Profile

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.