Chevron Corporation $CVX Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,611 shares of the oil and gas company’s stock after selling 118 shares during the period. Abacus Planning Group Inc.’s holdings in Chevron were worth $517,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CVX. Apella Capital LLC lifted its stake in Chevron by 21.6% during the 1st quarter. Apella Capital LLC now owns 10,477 shares of the oil and gas company’s stock worth $1,753,000 after acquiring an additional 1,859 shares in the last quarter. Johnson & White Wealth Management LLC raised its position in Chevron by 12.1% in the 1st quarter. Johnson & White Wealth Management LLC now owns 3,967 shares of the oil and gas company’s stock valued at $664,000 after purchasing an additional 427 shares in the last quarter. Bay Rivers Group raised its position in Chevron by 8.4% in the 1st quarter. Bay Rivers Group now owns 1,605 shares of the oil and gas company’s stock valued at $268,000 after purchasing an additional 125 shares in the last quarter. HF Advisory Group LLC acquired a new stake in Chevron in the 1st quarter valued at about $204,000. Finally, Naples Global Advisors LLC raised its position in Chevron by 2.1% in the 1st quarter. Naples Global Advisors LLC now owns 28,781 shares of the oil and gas company’s stock valued at $4,815,000 after purchasing an additional 586 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’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 transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.7%

NYSE:CVX opened at $153.53 on Friday. The company has a market capitalization of $265.30 billion, a PE ratio of 19.76, a P/E/G ratio of 1.97 and a beta of 0.84. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s 50 day moving average price is $156.26 and its 200 day moving average price is $149.14. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $165.05.

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.