Quadrant Private Wealth Management LLC Sells 5,455 Shares of Chevron Corporation $CVX

Quadrant Private Wealth Management LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 21.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 19,895 shares of the oil and gas company’s stock after selling 5,455 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Chevron were worth $4,116,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVX. Midwest Capital Advisors LLC bought a new position in Chevron during the 1st quarter worth approximately $25,000. Main Street Group LTD acquired a new position in Chevron during the first quarter valued at approximately $28,000. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter valued at approximately $26,000. Core Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter worth $26,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVX shares. Wells Fargo & Company lifted their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Friday, March 20th. Morgan Stanley dropped their price target on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Finally, UBS Group reiterated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Nineteen 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. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $206.83.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Stock Up 1.9%

Shares of CVX stock opened at $187.39 on Friday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $181.54 and a 200-day moving average of $182.44. The company has a market capitalization of $373.21 billion, a price-to-earnings ratio of 32.48, a P/E/G ratio of 0.64 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 EPS. As a group, equities research analysts predict that Chevron Corporation will post 14.83 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.