Sequoia Financial Advisors LLC Increases Position in Chevron Corporation $CVX

Sequoia Financial Advisors LLC grew its position in Chevron Corporation (NYSE:CVX) by 2.5% during the first quarter, Holdings Channel.com reports. The firm owned 160,718 shares of the oil and gas company’s stock after acquiring an additional 3,966 shares during the period. Sequoia Financial Advisors LLC’s holdings in Chevron were worth $33,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC purchased a new stake in Chevron during the 1st quarter worth about $25,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the 4th quarter worth about $26,000. Core Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter worth approximately $26,000. Karpus Management Inc. purchased a new stake in Chevron during the fourth quarter worth approximately $27,000. Finally, Basso Capital Management L.P. acquired a new position in Chevron in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of Chevron stock traded up $2.24 during trading on Friday, reaching $176.29. The company’s stock had a trading volume of 5,984,338 shares, compared to its average volume of 9,284,713. The business has a 50 day moving average price of $181.92 and a 200-day moving average price of $181.29. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market capitalization of $351.10 billion, a P/E ratio of 30.55, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the company posted $2.18 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. TD Cowen raised their price objective on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Citigroup boosted their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.83.

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.