Allied Investment Advisors LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Allied Investment Advisors LLC trimmed its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 2.3% in the second quarter, Holdings Channel.com reports. The fund owned 69,322 shares of the oil and gas company’s stock after selling 1,655 shares during the quarter. Chevron makes up approximately 3.6% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Allied Investment Advisors LLC’s holdings in Chevron were worth $10,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Chevron by 2.5% during the 4th 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 purchasing an additional 977 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of Chevron by 2.1% during the 4th quarter. Pitcairn Co. now owns 15,055 shares of the oil and gas company’s stock worth $1,767,000 after buying an additional 311 shares in the last quarter. Mmbg Investment Advisors CO. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $305,000. IHT Wealth Management LLC grew its position in shares of Chevron by 2.8% during the 4th quarter. IHT Wealth Management LLC now owns 14,863 shares of the oil and gas company’s stock worth $1,744,000 after buying an additional 409 shares during the period. Finally, LPL Financial LLC lifted its position in shares of Chevron by 8.5% during the 4th quarter. LPL Financial LLC now owns 1,656,719 shares of the oil and gas company’s stock valued at $194,416,000 after acquiring an additional 130,318 shares during the period. 69.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CVX. Bank of America raised their price target on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Barclays boosted their target price on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Truist Financial cut their price target on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. Piper Sandler upped their target price on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Finally, Cowen upped their price objective on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $169.20.

Insiders Place Their Bets

In other news, EVP James William Johnson sold 85,300 shares of Chevron 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the sale, the chief financial officer now directly owns 7 shares in the company, valued at approximately $1,106.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James William Johnson sold 85,300 shares of the business’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 disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock worth $23,024,499 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Chevron Stock Down 0.1 %

CVX stock opened at $154.89 on Friday. The stock has a fifty day moving average of $155.74 and a 200-day moving average of $160.31. Chevron Co. has a fifty-two week low of $97.75 and a fifty-two week high of $182.40. 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. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. During the same period in the prior year, the firm earned $1.71 earnings per share. The company’s revenue was up 82.9% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

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

About Chevron

(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.

Featured Stories

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.