Chevron Corporation $CVX Shares Sold by Hamilton Capital LLC

Hamilton Capital LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 18.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,699 shares of the oil and gas company’s stock after selling 3,885 shares during the period. Chevron comprises 0.1% of Hamilton Capital LLC’s investment portfolio, making the stock its 19th biggest holding. Hamilton Capital LLC’s holdings in Chevron were worth $2,934,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVX. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the 1st quarter worth $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the fourth quarter worth about $26,000. Quattro Advisors LLC acquired a new position in Chevron during the fourth quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Sanford C. Bernstein lifted their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Piper Sandler assumed coverage on Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price on the stock. Finally, Morgan Stanley raised their price target on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Chevron Trading Down 0.1%

Shares of CVX opened at $199.91 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market cap of $394.98 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The firm has a 50 day simple moving average of $186.87 and a 200-day simple moving average of $188.76.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. Equities analysts forecast that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

Insider Activity

In related news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Chevron Profile

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.