Weatherly Asset Management L. P. Sells 272 Shares of Chevron Co. (NYSE:CVX)

Weatherly Asset Management L. P. lessened its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,356 shares of the oil and gas company’s stock after selling 272 shares during the period. Weatherly Asset Management L. P.’s holdings in Chevron were worth $4,292,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CVX. Your Advocates Ltd. LLP purchased a new position in shares of Chevron in the 1st quarter worth about $25,000. Rational Advisors LLC raised its position in shares of Chevron by 116.3% in the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 121 shares during the last quarter. Curi Wealth Management LLC purchased a new position in shares of Chevron in the 4th quarter worth about $30,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Chevron in the 1st quarter worth about $30,000. Finally, Landmark Wealth Management LLC purchased a new position in shares of Chevron in the 1st quarter worth about $34,000. Institutional investors own 65.89% of the company’s stock.

Chevron Trading Up 1.7 %

Shares of NYSE:CVX opened at $153.64 on Friday. The stock has a 50 day moving average of $154.37 and a 200 day moving average of $155.35. The company has a market cap of $301.87 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The business had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same period in the prior year, the company posted $1.71 EPS. The firm’s revenue for the quarter was up 82.9% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 17.51 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.70%. Chevron’s payout ratio is 37.89%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVX shares. Morgan Stanley boosted their target price on Chevron from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 19th. Royal Bank of Canada lowered Chevron from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $160.00 to $165.00 in a research report on Thursday, April 21st. Credit Suisse Group boosted their target price on Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. HSBC raised Chevron from a “hold” rating to a “buy” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $172.00 target price on shares of Chevron in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Insiders Place Their Bets

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Enrique Hernandez, Jr. sold 39,773 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $173.99, for a total transaction of $6,920,104.27. Following the completion of the transaction, the director now directly owns 22,978 shares in the company, valued at approximately $3,997,942.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the transaction, the director now owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. Insiders sold 399,043 shares of company stock worth $67,010,843 in the last three months. 0.32% of the stock is owned by company insiders.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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