Franklin Street Advisors Inc. NC Sells 561 Shares of Chevron Co. (NYSE:CVX)

Franklin Street Advisors Inc. NC cut its position in Chevron Co. (NYSE:CVXGet Rating) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,086 shares of the oil and gas company’s stock after selling 561 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Chevron were worth $3,632,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new stake in Chevron in the 1st quarter valued at $25,000. Cordant Inc. bought a new stake in Chevron in the 1st quarter valued at $29,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Chevron during the 1st quarter valued at $30,000. Orion Capital Management LLC lifted its position in shares of Chevron by 85.0% during the 1st quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 102 shares during the period. Finally, Worth Asset Management LLC bought a new stake in shares of Chevron during the 1st quarter valued at $36,000. 69.30% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP James William Johnson sold 85,300 shares of the stock in a transaction dated 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 at this hyperlink. In related news, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,732 shares of company stock valued at $23,024,499. Company insiders own 0.32% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $154.89 on Friday. Chevron Co. has a 12-month low of $97.75 and a 12-month high of $182.40. The business has a 50-day simple moving average of $155.74 and a two-hundred day simple moving average of $160.31. 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 stock has a market cap of $304.33 billion, a PE ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last issued 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. The company had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business’s quarterly revenue was up 82.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. Analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.67%. Chevron’s payout ratio is 37.89%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Truist Financial cut their target price on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research report on Tuesday, July 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $172.00 target price on shares of Chevron in a research report on Thursday, August 4th. Morgan Stanley upped their target price on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 6th. Finally, Cowen upped their target price on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Company 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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