Private Advisor Group LLC Trims Stake in Chevron Co. (NYSE:CVX)

Private Advisor Group LLC reduced its position in Chevron Co. (NYSE:CVXGet Rating) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 242,221 shares of the oil and gas company’s stock after selling 5,642 shares during the quarter. Private Advisor Group LLC’s holdings in Chevron were worth $35,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP purchased a new stake in Chevron in the 1st quarter worth about $25,000. Cordant Inc. bought a new position in Chevron in the 1st quarter worth about $29,000. Joseph P. Lucia & Associates LLC bought a new position in Chevron in the 1st quarter worth about $30,000. Landmark Wealth Management LLC bought a new position in Chevron in the 1st quarter worth about $34,000. Finally, Byrne Asset Management LLC bought a new position in Chevron in the 4th quarter worth about $36,000. 69.30% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.1 %

NYSE:CVX opened at $154.89 on Friday. 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 of $155.74 and a 200 day moving average of $160.31. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The stock has a market capitalization 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 posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business’s quarterly revenue was up 82.9% on a year-over-year basis. During the same quarter last year, the company posted $1.71 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 85,300 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP James William Johnson sold 85,300 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,732 shares of company stock valued at $23,024,499. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cowen upped their target price on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Morgan Stanley upped their target price on shares of Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 6th. Barclays upped their target price on shares of Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Cowen upped their target price on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Finally, Truist Financial dropped their price objective 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 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. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

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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