Chevron Corporation $CVX Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA cut its stake in Chevron Corporation (NYSE:CVX) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,234 shares of the oil and gas company’s stock after selling 120 shares during the period. Jacobs & Co. CA’s holdings in Chevron were worth $3,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its stake 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 purchasing an additional 122 shares in the last quarter. Elequin Capital LP acquired a new stake in Chevron in the 1st quarter worth approximately $31,000. 10Elms LLP acquired a new stake in Chevron in the 4th quarter worth approximately $29,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the 1st quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX opened at $157.23 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a fifty day moving average price of $154.67 and a 200 day moving average price of $148.89. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $271.69 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the business posted $2.55 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. 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 for the company. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Finally, UBS Group lifted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average target price of $164.80.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron 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.