WealthTrust Axiom LLC Sells 573 Shares of Chevron Co. (NYSE:CVX)

WealthTrust Axiom LLC trimmed its position in Chevron Co. (NYSE:CVX) by 2.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,742 shares of the oil and gas company’s stock after selling 573 shares during the period. Chevron comprises 1.0% of WealthTrust Axiom LLC’s investment portfolio, making the stock its 29th biggest position. WealthTrust Axiom LLC’s holdings in Chevron were worth $2,934,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Guidant Wealth Advisors boosted its stake in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new position in Chevron in the second quarter valued at about $34,000. Transamerica Financial Advisors Inc. purchased a new position in Chevron in the second quarter valued at about $46,000. Cordasco Financial Network boosted its stake in Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 135 shares during the last quarter. Finally, CKW Financial Group boosted its stake in Chevron by 154.0% in the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 251 shares during the last quarter. 65.68% of the stock is owned by institutional investors and hedge funds.

Shares of CVX stock traded down $0.96 during trading on Friday, reaching $120.93. 4,176,056 shares of the company’s stock traded hands, compared to its average volume of 6,442,372. The company has a market capitalization of $231.49 billion, a P/E ratio of 14.66, a PEG ratio of 3.25 and a beta of 0.99. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average is $117.65 and its 200 day moving average is $119.96. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.34.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). The business had revenue of $36.12 billion for the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 6.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, November 15th. Chevron’s payout ratio is currently 57.70%.

A number of research analysts have weighed in on CVX shares. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Independent Research set a $127.00 target price on shares of Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets started coverage on shares of Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price on the stock. Morgan Stanley dropped their target price on shares of Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Barclays started coverage on shares of Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $135.88.

In related news, CEO Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,218,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Inchausti sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the sale, the insider now owns 15,000 shares in the company, valued at $1,798,350. The disclosure for this sale can be found here. Insiders have sold a total of 91,750 shares of company stock worth $11,216,850 over the last 90 days. 0.31% of the stock is currently owned by corporate insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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