Chevron Co. (NYSE:CVX) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. decreased its position in Chevron Co. (NYSE:CVX) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,219 shares of the oil and gas company’s stock after selling 72 shares during the quarter. Valley National Advisers Inc.’s holdings in Chevron were worth $503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Silver Lake Advisory LLC increased its holdings in Chevron by 200.5% during the 2nd quarter. Silver Lake Advisory LLC now owns 7,104 shares of the oil and gas company’s stock worth $1,111,000 after purchasing an additional 4,740 shares during the last quarter. 4J Wealth Management LLC grew its holdings in Chevron by 6.8% during the 2nd quarter. 4J Wealth Management LLC now owns 1,562 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 100 shares in the last quarter. Fiduciary Financial Group LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at about $430,000. W.H. Cornerstone Investments Inc. lifted its position in shares of Chevron by 11.7% during the second quarter. W.H. Cornerstone Investments Inc. now owns 4,832 shares of the oil and gas company’s stock worth $756,000 after purchasing an additional 506 shares during the last quarter. Finally, Comprehensive Financial Consultants Institutional Inc. grew its stake in Chevron by 5.8% in the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,531 shares of the oil and gas company’s stock worth $1,647,000 after purchasing an additional 582 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.3 %

Shares of NYSE:CVX opened at $147.27 on Friday. The firm has a 50 day simple moving average of $153.82 and a 200 day simple moving average of $155.92. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $271.41 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 EPS. As a group, research analysts expect that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVX shares. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.