Chevron Corporation $CVX Shares Sold by Milestone Asset Management LLC

Milestone Asset Management LLC cut its stake in Chevron Corporation (NYSE:CVX) by 35.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,800 shares of the oil and gas company’s stock after selling 4,784 shares during the period. Milestone Asset Management LLC’s holdings in Chevron were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron during the first quarter worth approximately $31,000. Quaker Wealth Management LLC grew its holdings 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 worth $31,000 after buying an additional 439 shares in the last quarter. IMG Wealth Management Inc. increased its position 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 bought a new stake in Chevron during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVX. Piper Sandler lifted their price objective 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. TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reiterated an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $165.40.

Chevron Price Performance

NYSE CVX opened at $154.13 on Tuesday. The company has a 50 day simple moving average of $155.99 and a 200-day simple moving average of $149.32. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $266.34 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $49.73 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter last year, the business posted $2.48 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction 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 owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

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.