Joel Isaacson & Co. LLC Cuts Holdings in Chevron Corporation $CVX

Joel Isaacson & Co. LLC lowered its holdings in Chevron Corporation (NYSE:CVX) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,642 shares of the oil and gas company’s stock after selling 238 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Chevron were worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. CCG Wealth Management LLC raised its stake in Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after buying an additional 145 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares during the period. Vista Capital Partners Inc. lifted its holdings in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after acquiring an additional 495 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after purchasing an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its stake in shares of Chevron by 0.3% during the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after purchasing an additional 1,755 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Saturday, September 27th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, UBS Group lifted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.05.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on 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 owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $153.99 on Tuesday. The business’s 50 day moving average price is $156.19 and its 200-day moving average price is $148.80. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $266.09 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

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, 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 period in the previous year, the firm earned $2.55 earnings per share. Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed 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 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend 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.