Prime Capital Investment Advisors LLC Reduces Holdings in Chevron Corporation $CVX

Prime Capital Investment Advisors LLC lowered its position in shares of Chevron Corporation (NYSE:CVX) by 18.7% during the second quarter, Holdings Channel reports. The firm owned 140,367 shares of the oil and gas company’s stock after selling 32,207 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Chevron were worth $20,099,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during 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 last quarter. Elequin Capital LP purchased a new stake in Chevron during the first quarter worth about $31,000. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV grew its holdings 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 valued at $39,000 after purchasing an additional 149 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in Chevron in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of Chevron 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 transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. UBS Group raised their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Mizuho reduced their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Stock Up 0.1%

NYSE:CVX opened at $153.59 on Monday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. 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 has a 50 day moving average of $156.23 and a 200-day moving average of $148.87. The firm has a market capitalization of $265.40 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend 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 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.