ACG Wealth Has $1.77 Million Position in Chevron Co. (NYSE:CVX)

ACG Wealth cut its stake in Chevron Co. (NYSE:CVXGet Rating) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,229 shares of the oil and gas company’s stock after selling 99 shares during the quarter. ACG Wealth’s holdings in Chevron were worth $1,770,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVX. Secure Asset Management LLC grew its stake in Chevron by 15.7% during the first quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after buying an additional 593 shares in the last quarter. Rothschild Investment Corp IL grew its stake in Chevron by 0.6% during the second quarter. Rothschild Investment Corp IL now owns 134,756 shares of the oil and gas company’s stock worth $19,510,000 after buying an additional 748 shares in the last quarter. S.C. Financial Services Inc. grew its stake in Chevron by 12.3% during the second quarter. S.C. Financial Services Inc. now owns 3,880 shares of the oil and gas company’s stock worth $562,000 after buying an additional 424 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its stake in Chevron by 26.4% during the first quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock worth $1,033,000 after buying an additional 1,326 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Chevron by 15.9% in the 2nd quarter. Sound Income Strategies LLC now owns 2,879 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 395 shares in the last quarter. 69.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Barclays raised their price target on shares of Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. Wells Fargo & Company raised their price target on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. Bank of America raised their price target on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, Truist Financial reduced their price target on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.20.

Chevron Stock Down 0.1 %

Chevron stock opened at $154.89 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. Chevron Co. has a 52-week low of $97.75 and a 52-week high of $182.40. The firm has a 50 day moving average price of $155.74 and a two-hundred day moving average price of $160.31. The firm has a market cap of $304.33 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last released 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. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same quarter last year, the business earned $1.71 EPS. The company’s revenue was up 82.9% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 18.37 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were paid a $1.42 dividend. The ex-dividend date was Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.67%. Chevron’s dividend payout ratio is currently 37.89%.

Insider Activity

In other news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The shares were 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 owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The disclosure for this sale can be found here. Insiders sold 141,732 shares of company stock worth $23,024,499 in the last quarter. 0.32% of the stock is owned by corporate insiders.

About Chevron

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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