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

International Assets Investment Management LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 9.0% during the first quarter, Holdings Channel reports. The institutional investor owned 29,913 shares of the oil and gas company’s stock after selling 2,960 shares during the quarter. International Assets Investment Management LLC’s holdings in Chevron were worth $5,905,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new stake in Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth $26,000. Phillip James Consulting Co. bought a new stake in shares of Chevron in the fourth quarter valued at $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron in the fourth quarter valued at $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.56% of the stock is owned by company insiders.

More Chevron News

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

Chevron Price Performance

Shares of Chevron stock traded up $2.24 during trading on Friday, reaching $176.29. 5,984,338 shares of the stock traded hands, compared to its average volume of 9,284,713. The company has a market capitalization of $351.10 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 0.60 and a beta of 0.50. The business has a fifty day simple moving average of $181.92 and a two-hundred day simple moving average of $181.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

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

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup increased their target price on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Wells Fargo & Company boosted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Friday, March 20th. Finally, Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.