AM Investment Strategies LLC Sells 4,689 Shares of Chevron Co. (NYSE:CVX)

AM Investment Strategies LLC decreased its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 47.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,141 shares of the oil and gas company’s stock after selling 4,689 shares during the quarter. AM Investment Strategies LLC’s holdings in Chevron were worth $837,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cadent Capital Advisors LLC increased its stake in Chevron by 16.0% in the first quarter. Cadent Capital Advisors LLC now owns 2,949 shares of the oil and gas company’s stock valued at $480,000 after acquiring an additional 406 shares during the period. Klingman & Associates LLC bought a new stake in Chevron in the first quarter valued at about $591,000. AIA Group Ltd increased its stake in Chevron by 63.3% in the first quarter. AIA Group Ltd now owns 1,460 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 566 shares during the period. IndexIQ Advisors LLC increased its stake in Chevron by 269.3% in the first quarter. IndexIQ Advisors LLC now owns 28,820 shares of the oil and gas company’s stock valued at $4,693,000 after acquiring an additional 21,015 shares during the period. Finally, Independent Advisor Alliance grew its stake in Chevron by 50.8% during the first quarter. Independent Advisor Alliance now owns 112,092 shares of the oil and gas company’s stock worth $18,252,000 after buying an additional 37,758 shares during the last quarter. Institutional investors own 65.89% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares of the company’s stock, valued at $125,662.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares of the company’s stock, valued at $125,662.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 399,043 shares of company stock valued at $67,010,843. Corporate insiders own 0.32% of the company’s stock.

Chevron Trading Down 2.7 %

Shares of NYSE CVX opened at $151.14 on Friday. The company’s 50 day simple moving average is $154.86 and its 200 day simple moving average is $155.19. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The firm has a market capitalization of $296.96 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The business had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. During the same period in the prior year, the business posted $1.71 earnings per share. Chevron’s revenue was up 82.9% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 17.51 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.76%. The ex-dividend date is Thursday, August 18th. Chevron’s payout ratio is presently 37.89%.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 20th. Truist Financial decreased their price objective on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Cowen decreased their price objective on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Piper Sandler decreased their price objective on shares of Chevron from $213.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Finally, Bank of America upped their price objective on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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