Sound View Wealth Advisors Group LLC Sells 330 Shares of Chevron Co. (NYSE:CVX)


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Sound View Wealth Advisors Group LLC cut its stake in Chevron Co. (NYSE:CVX) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,440 shares of the oil and gas company’s stock after selling 330 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Chevron were worth $3,399,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Spearhead Capital Advisors LLC grew its stake in shares of Chevron by 17.0% in the first quarter. Spearhead Capital Advisors LLC now owns 83,872 shares of the oil and gas company’s stock valued at $8,789,000 after acquiring an additional 12,171 shares in the last quarter. Crossvault Capital Management LLC grew its stake in shares of Chevron by 10.5% in the first quarter. Crossvault Capital Management LLC now owns 25,837 shares of the oil and gas company’s stock valued at $2,707,000 after acquiring an additional 2,450 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its stake in shares of Chevron by 1.6% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 14,362 shares of the oil and gas company’s stock valued at $1,505,000 after acquiring an additional 220 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Chevron by 71.3% in the first quarter. Park Avenue Securities LLC now owns 47,583 shares of the oil and gas company’s stock valued at $4,986,000 after acquiring an additional 19,808 shares in the last quarter. Finally, JJJ Advisors Inc. grew its stake in shares of Chevron by 36.4% in the first quarter. JJJ Advisors Inc. now owns 1,004 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 268 shares in the last quarter. Institutional investors and hedge funds own 62.27% of the company’s stock.

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Chevron from $105.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, February 1st. Jefferies Financial Group downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 price objective on the stock. in a research note on Thursday, January 21st. Scotiabank reiterated a “sector perform” rating and set a $115.00 price objective on shares of Chevron in a research note on Tuesday, March 16th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research note on Friday, January 29th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Wednesday, March 17th. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $110.68.

NYSE CVX traded down $0.33 during mid-day trading on Tuesday, hitting $105.20. The company’s stock had a trading volume of 280,510 shares, compared to its average volume of 10,701,234. The company’s 50 day simple moving average is $104.24 and its 200 day simple moving average is $92.40. Chevron Co. has a twelve month low of $65.16 and a twelve month high of $112.70. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $202.83 billion, a price-to-earnings ratio of -17.27, a PEG ratio of 5.74 and a beta of 1.33.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The business had revenue of $32.03 billion during the quarter, compared to analyst estimates of $31.82 billion. During the same period in the previous year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 0.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th will be paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.10%. This is a boost from Chevron’s previous quarterly dividend of $1.29. The ex-dividend date is Tuesday, May 18th. Chevron’s payout ratio is presently 82.30%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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