InTrack Investment Management Inc Sells 600 Shares of Chevron Corporation $CVX

InTrack Investment Management Inc decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 23.3% in the second quarter, HoldingsChannel reports. The fund owned 1,975 shares of the oil and gas company’s stock after selling 600 shares during the quarter. InTrack Investment Management Inc’s holdings in Chevron were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CVX. Wealthcare Advisory Partners LLC grew its position in shares of Chevron by 6.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 28,303 shares of the oil and gas company’s stock valued at $4,735,000 after acquiring an additional 1,644 shares during the period. GAMMA Investing LLC grew its position in shares of Chevron by 27.3% during the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after acquiring an additional 6,928 shares during the period. Integral Investment Advisors Inc. grew its position in shares of Chevron by 1.0% during the 1st quarter. Integral Investment Advisors Inc. now owns 14,601 shares of the oil and gas company’s stock valued at $2,443,000 after acquiring an additional 144 shares during the period. MV Capital Management Inc. grew its position in shares of Chevron by 78.9% during the 1st quarter. MV Capital Management Inc. now owns 2,487 shares of the oil and gas company’s stock valued at $416,000 after acquiring an additional 1,097 shares during the period. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Chevron by 16.8% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 9,521 shares of the oil and gas company’s stock valued at $1,593,000 after acquiring an additional 1,369 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.7%

Shares of CVX stock opened at $153.76 on Thursday. The stock has a market cap of $265.70 billion, a P/E ratio of 19.79, a PEG ratio of 1.99 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 company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $156.15 and its two-hundred day simple moving average is $148.88.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is presently 88.03%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Finally, Bank of America lifted their target price 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. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $165.15.

Insider Activity

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

About Chevron

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.