Ameriflex Group Inc. Sells 9,514 Shares of Chevron Corporation $CVX

Ameriflex Group Inc. cut its holdings in Chevron Corporation (NYSE:CVX) by 50.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,393 shares of the oil and gas company’s stock after selling 9,514 shares during the quarter. Ameriflex Group Inc.’s holdings in Chevron were worth $1,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% in 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 buying an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV grew its holdings in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the period. Finally, Cooksen Wealth LLC acquired a new position in shares of Chevron in the 1st quarter valued at $43,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.1%

CVX opened at $153.59 on Friday. The stock has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.98 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm’s fifty day simple moving average is $156.23 and its 200 day simple moving average is $149.09. 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) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.55 EPS. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is 88.03%.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’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 sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $636,480.00. Following 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. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Finally, Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $165.05.

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.