ICA Group Wealth Management LLC Sells 13,448 Shares of Chevron Co. (NYSE:CVX)

ICA Group Wealth Management LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 77.8% in the second quarter, Holdings Channel reports. The fund owned 3,835 shares of the oil and gas company’s stock after selling 13,448 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Chevron were worth $600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacifica Partners Inc. grew its stake in Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC grew its position in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC increased its stake in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group lifted its stake in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Scotiabank cut their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Price Performance

Shares of NYSE:CVX opened at $140.61 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The stock has a market capitalization of $257.16 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.37 and a beta of 1.09. The company has a 50-day simple moving average of $149.12 and a 200-day simple moving average of $154.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. On average, analysts predict that Chevron Co. will post 11.63 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.64%. Chevron’s dividend payout ratio is currently 59.98%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.