SOA Wealth Advisors LLC. Trims Stake in Chevron Co. (NYSE:CVX)

SOA Wealth Advisors LLC. decreased its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 5.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,490 shares of the oil and gas company’s stock after selling 360 shares during the period. SOA Wealth Advisors LLC.’s holdings in Chevron were worth $939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Murphy Capital Management Inc. grew its holdings in shares of Chevron by 0.7% during the 2nd quarter. Murphy Capital Management Inc. now owns 50,756 shares of the oil and gas company’s stock worth $7,348,000 after acquiring an additional 328 shares during the period. ERN LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $673,000. Waverton Investment Management Ltd grew its holdings in shares of Chevron by 15.2% during the 2nd quarter. Waverton Investment Management Ltd now owns 176,254 shares of the oil and gas company’s stock worth $25,518,000 after acquiring an additional 23,251 shares during the period. Inlet Private Wealth LLC grew its holdings in shares of Chevron by 2.4% during the 2nd quarter. Inlet Private Wealth LLC now owns 43,344 shares of the oil and gas company’s stock worth $6,275,000 after acquiring an additional 1,008 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Chevron by 2.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 437,372 shares of the oil and gas company’s stock worth $63,323,000 after acquiring an additional 10,213 shares during the period. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Insider Buying and Selling

In related news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total value of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,106.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total value of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,106.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is owned by company insiders.

Chevron Price Performance

NYSE CVX opened at $155.01 on Thursday. The business’s fifty day moving average price is $155.36 and its 200-day moving average price is $160.36. The stock has a market capitalization of $304.57 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. Chevron Co. has a 1-year low of $96.24 and a 1-year high of $182.40.

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 for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same period in the prior year, the firm earned $1.71 EPS. The company’s revenue was up 82.9% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors 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 yield of 3.66%. Chevron’s dividend payout ratio is currently 37.89%.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Piper Sandler upped their price target on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $172.00 price target on shares of Chevron in a research note on Thursday, August 4th. Cowen upped their price target on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Finally, Wells Fargo & Company upped their price target on Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.20.

Chevron Profile

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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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