Lyell Wealth Management LP Sells 18,277 Shares of Chevron Corporation $CVX

Lyell Wealth Management LP lowered its position in shares of Chevron Corporation (NYSE:CVX) by 39.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,181 shares of the oil and gas company’s stock after selling 18,277 shares during the period. Lyell Wealth Management LP’s holdings in Chevron were worth $4,035,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its position in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP purchased a new stake in Chevron during the 1st quarter valued at $31,000. Cloud Capital Management LLC purchased a new stake in Chevron during the 1st quarter valued at $39,000. Investment Management Corp VA ADV boosted its position in Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the period. Finally, 1 North Wealth Services LLC purchased a new stake in Chevron during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.9%

Shares of NYSE CVX opened at $153.12 on Monday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $264.58 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The firm has a 50-day moving average of $156.03 and a 200 day moving average of $147.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its quarterly 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the company posted $2.55 EPS. Chevron’s revenue was down 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given 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 (DPR) is 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. UBS Group boosted their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Mizuho reduced their price target 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. TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, Barclays reduced their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Eleven 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.25.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron 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 completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% 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.

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.