E&G Advisors LP Trims Stake in Chevron Co. (NYSE:CVX)

E&G Advisors LP reduced its position in Chevron Co. (NYSE:CVX – Get Rating) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,693 shares of the oil and gas company’s stock after selling 600 shares during the period. E&G Advisors LP’s holdings in Chevron were worth $1,090,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVX. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter valued at about $3,111,594,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Chevron in the 4th quarter valued at about $119,040,000. Invesco Ltd. lifted its holdings in shares of Chevron by 6.8% in the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after purchasing an additional 917,773 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Chevron by 534.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company’s stock valued at $111,113,000 after acquiring an additional 797,701 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Chevron by 28.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company’s stock valued at $381,845,000 after acquiring an additional 730,170 shares during the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.

In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the sale, the director now owns 3,543 shares in the company, valued at approximately $628,138.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James William Johnson sold 55,600 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $165.94, for a total value of $9,226,264.00. Following the sale, the executive vice president now owns 1,243 shares in the company, valued at approximately $206,263.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 561,726 shares of company stock worth $94,057,396. 0.32% of the stock is owned by insiders.

CVX has been the subject of several analyst reports. UBS Group upped their price objective on Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, April 5th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Wednesday, March 2nd. Citigroup upped their price objective on Chevron from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 19th. The Goldman Sachs Group reduced their price objective on Chevron from $181.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. downgraded Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price objective for the company. in a research note on Friday, March 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $169.57.

CVX opened at $147.87 on Thursday. The stock has a market cap of $290.54 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $167.41 and its 200 day simple moving average is $149.45. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The firm had revenue of $54.37 billion during the quarter, compared to analyst estimates of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business’s revenue was up 69.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Research analysts expect that Chevron Co. will post 17.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 53.38%.

Chevron Company Profile (Get Rating)

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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