Private Advisor Group LLC Sells 5,642 Shares of Chevron Co. (NYSE:CVX)

Private Advisor Group LLC cut its holdings in Chevron Co. (NYSE:CVXGet Rating) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,221 shares of the oil and gas company’s stock after selling 5,642 shares during the period. Private Advisor Group LLC’s holdings in Chevron were worth $35,069,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVX. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Chevron by 2.5% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 40,143 shares of the oil and gas company’s stock valued at $4,711,000 after acquiring an additional 977 shares in the last quarter. Pitcairn Co. grew its holdings in shares of Chevron by 2.1% in the fourth quarter. Pitcairn Co. now owns 15,055 shares of the oil and gas company’s stock valued at $1,767,000 after acquiring an additional 311 shares in the last quarter. Mmbg Investment Advisors CO. bought a new position in shares of Chevron in the fourth quarter valued at approximately $305,000. IHT Wealth Management LLC grew its holdings in Chevron by 2.8% during the fourth quarter. IHT Wealth Management LLC now owns 14,863 shares of the oil and gas company’s stock valued at $1,744,000 after purchasing an additional 409 shares during the period. Finally, LPL Financial LLC grew its holdings in Chevron by 8.5% during the fourth quarter. LPL Financial LLC now owns 1,656,719 shares of the oil and gas company’s stock valued at $194,416,000 after purchasing an additional 130,318 shares during the period. 69.30% of the stock is owned by institutional investors.

Chevron Trading Down 0.1 %

NYSE CVX opened at $154.89 on Friday. The stock’s 50-day simple moving average is $155.74 and its two-hundred day simple moving average is $160.31. Chevron Co. has a twelve month low of $97.75 and a twelve month high of $182.40. 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 company 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 released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter last year, the business posted $1.71 earnings per share. The company’s revenue for the quarter was up 82.9% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 18.37 EPS for the current fiscal year.

Chevron Announces Dividend

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 dividend of $1.42 per share. 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 (DPR) is currently 37.89%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley increased their price objective on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a report on Tuesday, September 6th. Wells Fargo & Company increased their price objective on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Truist Financial reduced their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a report on Tuesday, July 19th. Finally, Barclays increased their target price on Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Insider Activity

In other news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was 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 directly owns 3,560 shares in the company, valued at $574,762. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is currently owned by 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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