Atria Wealth Solutions Inc. Sells 65,355 Shares of Chevron Corporation $CVX

Atria Wealth Solutions Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 46.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,867 shares of the oil and gas company’s stock after selling 65,355 shares during the period. Atria Wealth Solutions Inc.’s holdings in Chevron were worth $10,801,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. CCG Wealth Management LLC increased its position 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 worth $1,060,000 after buying an additional 145 shares during the period. Ignite Planners LLC grew its stake 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 valued at $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its position in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares during the period. Oregon Public Employees Retirement Fund increased its position in Chevron by 0.5% during 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 acquiring an additional 675 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in Chevron by 0.3% in the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after purchasing an additional 1,755 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Finally, TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.40.

Chevron Stock Performance

NYSE CVX opened at $149.11 on Monday. The company has a market capitalization of $257.66 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.93 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a fifty day simple moving average of $156.10 and a 200 day simple moving average of $148.41.

Chevron (NYSE:CVX) last released its quarterly 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 firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders 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 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio is presently 88.03%.

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated 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 owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’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 value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

About Chevron

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.