Johnson & White Wealth Management LLC Sells 246 Shares of Chevron Corporation $CVX

Johnson & White Wealth Management LLC lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,721 shares of the oil and gas company’s stock after selling 246 shares during the period. Johnson & White Wealth Management LLC’s holdings in Chevron were worth $533,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Beacon Capital Management LLC grew its holdings in Chevron by 133.1% in the second quarter. Beacon Capital Management LLC now owns 12,602 shares of the oil and gas company’s stock worth $1,804,000 after purchasing an additional 7,196 shares during the period. Patton Albertson Miller Group LLC grew its holdings in shares of Chevron by 4.2% during the second quarter. Patton Albertson Miller Group LLC now owns 39,466 shares of the oil and gas company’s stock valued at $5,651,000 after buying an additional 1,590 shares during the last quarter. Flywheel Private Wealth LLC grew its holdings in shares of Chevron by 4.2% during the second quarter. Flywheel Private Wealth LLC now owns 1,991 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 80 shares during the last quarter. Sonora Investment Management Group LLC grew its holdings in shares of Chevron by 4.2% during the second quarter. Sonora Investment Management Group LLC now owns 91,085 shares of the oil and gas company’s stock valued at $13,042,000 after buying an additional 3,685 shares during the last quarter. Finally, Stone Summit Wealth LLC grew its holdings in shares of Chevron by 6.3% during the second quarter. Stone Summit Wealth LLC now owns 1,686 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 100 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.4%

Shares of NYSE CVX opened at $160.13 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $156.04 and a two-hundred day simple moving average of $149.13. The firm has a market capitalization of $276.70 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.90. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron’s payout ratio is currently 88.03%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred 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 $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’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 completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. UBS Group boosted their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating, eight 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 $165.05.

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.