WESPAC Advisors SoCal LLC Sells 98 Shares of Chevron Co. (NYSE:CVX)

WESPAC Advisors SoCal LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,294 shares of the oil and gas company’s stock after selling 98 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Chevron were worth $202,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Berkshire Hathaway Inc raised its position in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares during the last quarter. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth about $2,902,007,000. Bank of New York Mellon Corp increased its stake in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after purchasing an additional 654,482 shares during the period. Finally, Capital World Investors boosted its stake in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.3 %

Shares of Chevron stock traded up $0.48 during trading on Thursday, reaching $145.80. 4,026,466 shares of the company were exchanged, compared to its average volume of 7,832,954. The business has a 50-day moving average price of $153.07 and a 200-day moving average price of $155.82. The firm has a market capitalization of $266.66 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 2.46 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.08 EPS. Sell-side analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Company Profile

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.