Montchanin Asset Management LLC Sells 1,200 Shares of Chevron Co. (NYSE:CVX)

Montchanin Asset Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,704 shares of the oil and gas company’s stock after selling 1,200 shares during the quarter. Chevron makes up 1.7% of Montchanin Asset Management LLC’s investment portfolio, making the stock its 14th largest position. Montchanin Asset Management LLC’s holdings in Chevron were worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CVX. American Capital Advisory LLC grew its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $30,000. Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC grew its position in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. TD Cowen lifted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Price Performance

Shares of NYSE CVX traded up $0.47 during mid-day trading on Friday, reaching $147.27. The company’s stock had a trading volume of 6,874,416 shares, compared to its average volume of 7,867,067. The firm has a market capitalization of $271.41 billion, a PE ratio of 13.55, a P/E/G ratio of 2.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a fifty day moving average of $153.82 and a two-hundred day moving average of $155.96. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.