Lmcg Investments LLC Sells 9,859 Shares of Chevron Corporation $CVX

Lmcg Investments LLC lessened its position in Chevron Corporation (NYSE:CVX) by 7.3% during the second quarter, Holdings Channel.com reports. The fund owned 124,772 shares of the oil and gas company’s stock after selling 9,859 shares during the period. Chevron accounts for 1.1% of Lmcg Investments LLC’s holdings, making the stock its 21st largest holding. Lmcg Investments LLC’s holdings in Chevron were worth $17,866,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. CCG Wealth Management LLC lifted its position in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after purchasing an additional 145 shares during the period. Ignite Planners LLC lifted its position in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares during the period. Vista Capital Partners Inc. lifted its position in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after purchasing an additional 495 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after purchasing an additional 675 shares during the period. Finally, Capital Advisors Inc. OK lifted its position in shares of Chevron by 0.3% in the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after purchasing an additional 1,755 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated 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 approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $165.40.

Chevron Stock Down 1.7%

NYSE:CVX opened at $149.11 on Friday. The firm has a market cap of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a 50-day simple moving average of $156.10 and a two-hundred day simple moving average of $148.67.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $2.55 EPS. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

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.