Janney Montgomery Scott LLC Sells 64,340 Shares of Chevron Corporation $CVX

Janney Montgomery Scott LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,171,663 shares of the oil and gas company’s stock after selling 64,340 shares during the period. Janney Montgomery Scott LLC’s holdings in Chevron were worth $178,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First American Trust FSB raised its stake in Chevron by 194.4% during the 4th quarter. First American Trust FSB now owns 17,670 shares of the oil and gas company’s stock valued at $2,693,000 after purchasing an additional 11,668 shares during the period. Wills Financial Group LLC raised its stake in Chevron by 6.8% during the 4th quarter. Wills Financial Group LLC now owns 41,832 shares of the oil and gas company’s stock valued at $6,376,000 after purchasing an additional 2,675 shares during the period. Deutsche Bank AG raised its stake in Chevron by 4.5% during the 4th quarter. Deutsche Bank AG now owns 4,185,126 shares of the oil and gas company’s stock valued at $637,855,000 after purchasing an additional 179,388 shares during the period. Paragon Private Wealth Management LLC raised its stake in Chevron by 29.0% during the 4th quarter. Paragon Private Wealth Management LLC now owns 5,646 shares of the oil and gas company’s stock valued at $861,000 after purchasing an additional 1,269 shares during the period. Finally, GW&K Investment Management LLC raised its stake in Chevron by 4.7% during the 4th quarter. GW&K Investment Management LLC now owns 2,279 shares of the oil and gas company’s stock valued at $347,000 after purchasing an additional 102 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $189.89 on Thursday. The stock has a market capitalization of $378.19 billion, a PE ratio of 32.91, a P/E/G ratio of 0.62 and a beta of 0.48. The business has a 50 day simple moving average of $189.38 and a two-hundred day simple moving average of $177.75. 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 1-year low of $142.40 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 EPS. On average, research analysts predict that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Morgan Stanley lifted their target price on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, April 9th. TD Cowen lifted their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of Chevron 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 completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

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.