Syntegra Private Wealth Group LLC Sells 878 Shares of Chevron Corporation $CVX

Syntegra Private Wealth Group LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 35.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586 shares of the oil and gas company’s stock after selling 878 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in Chevron were worth $227,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Greenfield Savings Bank raised its holdings in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC grew its stake in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Chevron by 10.3% during the 2nd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 70 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Chevron by 4.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVX shares. Piper Sandler raised their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $165.25.

Chevron Price Performance

Chevron stock opened at $154.53 on Tuesday. The company has a market capitalization of $267.02 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.02 and a beta of 0.84. 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 stock’s 50 day moving average is $156.05 and its 200-day moving average is $148.04.

Chevron (NYSE:CVX) last released its quarterly 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 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 analysts’ expectations of $44.59 billion. During the same period last year, the firm posted $2.55 EPS. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insider Transactions at Chevron

In other news, 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 transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on 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 sale, the director 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 ownership of the stock. 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.