Carson Advisory Inc. Decreases Stake in Chevron Corporation $CVX

Carson Advisory Inc. reduced its stake in Chevron Corporation (NYSE:CVX) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,727 shares of the oil and gas company’s stock after selling 329 shares during the quarter. Carson Advisory Inc.’s holdings in Chevron were worth $963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd increased its holdings in 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 worth $25,000 after buying an additional 122 shares during the period. Elequin Capital LP acquired a new stake in shares of Chevron during the 1st quarter worth approximately $31,000. Quaker Wealth Management LLC grew its stake in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares during the period. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares during the period. Finally, Cloud Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Raymond James Financial restated an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Bank of America raised their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, UBS Group raised their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.25.

Insider Activity

In related 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 value of $59,362,500.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $160.00, for a total transaction 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. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Chevron Stock Up 2.6%

NYSE CVX opened at $157.58 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $156.07 and its 200-day simple moving average is $149.11. The firm has a market cap of $272.30 billion, a PE ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $49.73 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the previous year, the firm earned $2.48 EPS. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s 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.