Atria Wealth Solutions Inc. Sells 65,355 Shares of Chevron Corporation $CVX

Atria Wealth Solutions Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 46.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,867 shares of the oil and gas company’s stock after selling 65,355 shares during the period. Atria Wealth Solutions Inc.’s holdings in Chevron were worth $10,801,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CVX. Kingstone Capital Partners Texas LLC grew its holdings in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC bought a new position in Chevron in the first quarter worth $1,466,751,000. Nuveen LLC acquired a new stake in Chevron during the first quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVX shares. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Barclays lowered their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Mizuho dropped their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Eleven research 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, Chevron has an average rating of “Hold” and an average target price of $165.40.

Chevron Trading Down 1.7%

Shares of CVX opened at $149.11 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $257.66 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.93 and a beta of 0.84. The stock has a fifty day moving average price of $156.10 and a two-hundred day moving average price of $148.41. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Dividend Announcement

The business also recently announced 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 of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s payout ratio is currently 88.03%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.