Chevron Corporation $CVX Shares Sold by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,118 shares of the oil and gas company’s stock after selling 3,336 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Chevron were worth $3,124,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Revolve Wealth Partners LLC boosted its stake in shares of Chevron by 58.7% during the 3rd quarter. Revolve Wealth Partners LLC now owns 4,462 shares of the oil and gas company’s stock worth $693,000 after acquiring an additional 1,651 shares in the last quarter. Monument Capital Management boosted its position in shares of Chevron by 39.8% in the 3rd quarter. Monument Capital Management now owns 6,631 shares of the oil and gas company’s stock valued at $1,030,000 after purchasing an additional 1,889 shares during the period. Voisard Asset Management Group Inc. boosted its position in shares of Chevron by 3.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,987 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 71 shares during the period. Welch Group LLC increased its stake in Chevron by 1.7% in the 3rd quarter. Welch Group LLC now owns 427,227 shares of the oil and gas company’s stock worth $66,344,000 after purchasing an additional 7,347 shares in the last quarter. Finally, White Pine Investment CO raised its holdings in Chevron by 0.8% during the 3rd quarter. White Pine Investment CO now owns 40,023 shares of the oil and gas company’s stock worth $6,215,000 after buying an additional 337 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $150.47 on Wednesday. The company has a market cap of $302.97 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 8.90 and a beta of 0.68. The business has a 50 day moving average price of $152.23 and a 200 day moving average price of $152.73. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period in the previous year, the company earned $2.48 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio is presently 96.20%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Zacks Research downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Finally, Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $166.00.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.