Chevron Corporation $CVX Shares Sold by WNY Asset Management LLC

WNY Asset Management LLC reduced its position in Chevron Corporation (NYSE:CVX) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,394 shares of the oil and gas company’s stock after selling 218 shares during the quarter. WNY Asset Management LLC’s holdings in Chevron were worth $629,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Greenfield Savings Bank raised its stake in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC raised its stake in Chevron by 2.4% in the 2nd 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 during the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after purchasing an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its stake in Chevron by 10.3% in the 2nd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 70 shares during the last quarter. Finally, Solstein Capital LLC grew its holdings in Chevron by 3.2% in the 2nd quarter. Solstein Capital LLC now owns 2,271 shares of the oil and gas company’s stock valued at $325,000 after buying an additional 70 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $154.16 on Wednesday. The stock has a market cap of $266.39 billion, a PE ratio of 19.84, a P/E/G ratio of 4.41 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 twelve month low of $132.04 and a twelve month high of $168.96. The stock has a fifty day simple moving average of $156.07 and a 200-day simple moving average of $148.68.

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 analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

Several analysts have issued reports on CVX shares. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Raymond James Financial restated an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Melius started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Finally, Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.25.

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.