Fountainhead AM LLC Has $602,000 Position in Chevron Co. (NYSE:CVX)

Fountainhead AM LLC lessened its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 26.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,695 shares of the oil and gas company’s stock after selling 1,363 shares during the quarter. Fountainhead AM LLC’s holdings in Chevron were worth $602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Clarity Financial LLC grew its position in Chevron by 2.2% during the first quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company’s stock valued at $454,000 after acquiring an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its position in Chevron by 3.4% during the first quarter. SYM FINANCIAL Corp now owns 1,895 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 62 shares during the last quarter. LCM Capital Management Inc grew its position in Chevron by 0.9% during the first quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company’s stock valued at $1,190,000 after acquiring an additional 63 shares during the last quarter. John G Ullman & Associates Inc. grew its position in Chevron by 1.1% during the first quarter. John G Ullman & Associates Inc. now owns 6,002 shares of the oil and gas company’s stock valued at $977,000 after acquiring an additional 67 shares during the last quarter. Finally, SMH Capital Advisors Inc. grew its position in Chevron by 1.7% during the first quarter. SMH Capital Advisors Inc. now owns 4,108 shares of the oil and gas company’s stock valued at $669,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 65.89% of the company’s stock.

Insider Transactions at Chevron

In other news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the sale, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock valued at $67,010,843 in the last quarter. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their target price on shares of Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial cut their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. Morgan Stanley raised their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Chevron Stock Performance

Shares of Chevron stock opened at $151.14 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. 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 business has a fifty day simple moving average of $154.86 and a two-hundred day simple moving average of $155.19. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40.

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

Chevron Dividend Announcement

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

Chevron Company 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

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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