Harel Insurance Investments & Financial Services Ltd. Sells 1,500 Shares of Chevron Co. (NYSE:CVX)

Harel Insurance Investments & Financial Services Ltd. cut its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 18.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,500 shares of the oil and gas company’s stock after selling 1,500 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Chevron were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CVX. Your Advocates Ltd. LLP bought a new position in Chevron during the 1st quarter worth approximately $25,000. Rational Advisors LLC grew its position in Chevron by 116.3% during the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 121 shares during the last quarter. Curi Wealth Management LLC bought a new position in Chevron during the 4th quarter worth approximately $30,000. Joseph P. Lucia & Associates LLC bought a new position in Chevron during the 1st quarter worth approximately $30,000. Finally, Landmark Wealth Management LLC bought a new position in Chevron during the 1st quarter worth approximately $34,000. 65.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Cowen reduced their price target on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Barclays lifted their price objective on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. The Goldman Sachs Group cut their price objective on Chevron from $181.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 22nd. Societe Generale lowered Chevron from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research report on Friday, May 20th. Finally, StockNews.com began coverage on Chevron in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $172.35.

Insiders Place Their Bets

In other Chevron news, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company’s stock, valued at approximately $628,138.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Chevron news, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company’s stock, valued at approximately $628,138.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 11,799 shares of Chevron stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $175.00, for a total value of $2,064,825.00. Following the completion of the sale, the director now directly owns 24,281 shares of the company’s stock, valued at approximately $4,249,175. The disclosure for this sale can be found here. In the last quarter, insiders sold 561,726 shares of company stock valued at $94,057,396. Corporate insiders own 0.32% of the company’s stock.

Chevron Stock Up 3.0 %

Shares of NYSE:CVX opened at $148.48 on Tuesday. The stock has a fifty day simple moving average of $157.58 and a two-hundred day simple moving average of $154.05. The stock has a market capitalization of $291.73 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.60 and a beta of 1.14. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The company had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The firm’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, research analysts anticipate that Chevron Co. will post 18.08 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Wednesday, May 18th. Chevron’s payout ratio is 53.38%.

Chevron Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).



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