International Assets Investment Management LLC Sells 2,960 Shares of Chevron Corporation $CVX

International Assets Investment Management LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,913 shares of the oil and gas company’s stock after selling 2,960 shares during the period. International Assets Investment Management LLC’s holdings in Chevron were worth $5,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. United Bank increased its stake in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares in the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas grew its stake in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after buying an additional 553 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.3%

Shares of CVX stock traded up $2.24 during trading on Friday, reaching $176.29. The company’s stock had a trading volume of 5,984,338 shares, compared to its average volume of 9,284,713. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The business has a fifty day moving average price of $181.92 and a 200-day moving average price of $181.29. The company has a market cap of $351.10 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 0.60 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 EPS. Analysts anticipate that Chevron Corporation will post 15.28 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVX shares. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Friday. Morgan Stanley lowered their target price on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Barclays upped their target price on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.83.

Chevron Company 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.