Elyxium Wealth LLC Lowers Holdings in Chevron Corporation $CVX

Elyxium Wealth LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,541 shares of the oil and gas company’s stock after selling 728 shares during the quarter. Elyxium Wealth LLC’s holdings in Chevron were worth $1,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ignite Planners LLC grew its position in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after buying an additional 1,519 shares during the period. Vista Capital Partners Inc. grew its position in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Capital Advisors Inc. OK grew its position in shares of Chevron by 0.3% in the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after purchasing an additional 1,755 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of Chevron by 33.8% in the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 318 shares during the last quarter. Finally, Mutual Advisors LLC lifted its stake in shares of Chevron by 7.3% during the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after buying an additional 6,058 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 price objective on the stock. Mizuho reduced their price objective 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. Scotiabank upped their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.40.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on 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 owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $154.13 on Tuesday. The company’s fifty day simple moving average is $155.99 and its 200-day simple moving average is $149.32. 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 company has a market cap of $266.34 billion, a PE ratio of 19.84, a P/E/G ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the firm posted $2.48 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is 96.20%.

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.