PFG Advisors Sells 467 Shares of Chevron Co. (NYSE:CVX)

PFG Advisors cut its holdings in Chevron Co. (NYSE:CVXGet Rating) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,160 shares of the oil and gas company’s stock after selling 467 shares during the period. PFG Advisors’ holdings in Chevron were worth $2,484,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new position in shares of Chevron during the first quarter valued at about $25,000. Cordant Inc. bought a new position in shares of Chevron during the first quarter valued at about $29,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Chevron during the first quarter valued at about $30,000. Landmark Wealth Management LLC bought a new position in shares of Chevron during the first quarter valued at about $34,000. Finally, Byrne Asset Management LLC bought a new position in shares of Chevron during the fourth quarter valued at about $36,000. 69.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, August 1st. Cowen increased their price target on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Truist Financial decreased their price target on shares of Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. Piper Sandler increased their price target on shares of Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. Finally, Morgan Stanley increased their price target on shares of Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 6th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.20.

Insider Activity

In other news, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James William Johnson sold 85,300 shares of the stock in a transaction that occurred 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. 0.32% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of CVX opened at $154.89 on Friday. The stock has a market cap of $304.33 billion, a PE ratio of 10.33, a price-to-earnings-growth 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 Co. has a fifty-two week low of $97.75 and a fifty-two week high of $182.40. The firm’s 50-day simple moving average is $155.74 and its two-hundred day simple moving average is $160.31.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. The business’s revenue for the quarter was up 82.9% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Chevron Company Profile

(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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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