Community Financial Services Group LLC Trims Position in Chevron Corporation $CVX

Community Financial Services Group LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,054 shares of the oil and gas company’s stock after selling 483 shares during the period. Community Financial Services Group LLC’s holdings in Chevron were worth $2,299,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its stake in Chevron by 420.7% in the first 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 during the period. Elequin Capital LP purchased a new stake in Chevron in the first quarter worth $31,000. IFS Advisors LLC grew its stake in Chevron by 119.6% in the first 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 during the period. Cloud Capital Management LLC purchased a new stake in Chevron in the first quarter worth $39,000. Finally, Investment Management Corp VA ADV grew its stake in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.4%

Chevron stock opened at $154.64 on Thursday. The stock has a market cap of $267.21 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a fifty day moving average of $156.31 and a 200 day moving average of $149.17.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.55 earnings per share. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVX shares. Piper Sandler upped their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Finally, Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $165.05.

Insiders Place Their Bets

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

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.