Quent Capital LLC Decreases Position in Chevron Corporation $CVX

Quent Capital LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,454 shares of the oil and gas company’s stock after selling 207 shares during the quarter. Quent Capital LLC’s holdings in Chevron were worth $638,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVX. HF Advisory Group LLC purchased a new stake in Chevron during the first quarter worth approximately $204,000. Breakwater Capital Group lifted its stake in Chevron by 28.9% during the first quarter. Breakwater Capital Group now owns 4,387 shares of the oil and gas company’s stock worth $734,000 after purchasing an additional 983 shares during the last quarter. West Coast Financial LLC purchased a new stake in Chevron during the first quarter worth approximately $205,000. Fjell Capital LLC lifted its stake in Chevron by 28.5% during the first quarter. Fjell Capital LLC now owns 7,899 shares of the oil and gas company’s stock worth $1,321,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Foster Group Inc. increased its position in Chevron by 26.5% during the first quarter. Foster Group Inc. now owns 3,669 shares of the oil and gas company’s stock worth $614,000 after buying an additional 769 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the company’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 owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Bank of America lifted their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Piper Sandler lifted their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron Trading Up 0.1%

NYSE:CVX opened at $153.59 on Friday. The firm has a market cap of $265.40 billion, a P/E ratio of 19.77, a PEG ratio of 1.98 and a beta of 0.84. 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 stock’s 50 day simple moving average is $156.23 and its 200-day simple moving average is $149.09. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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

Chevron Announces Dividend

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

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.