Pathway Financial Advisors LLC Has $261,000 Stock Position in Chevron Corporation $CVX

Pathway Financial Advisors LLC decreased its position in Chevron Corporation (NYSE:CVX) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,822 shares of the oil and gas company’s stock after selling 108 shares during the period. Pathway Financial Advisors LLC’s holdings in Chevron were worth $261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC grew its holdings in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares during the period. GQG Partners LLC acquired a new position in shares of Chevron in the 1st quarter valued at $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron in the 1st quarter valued at $1,362,232,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after buying an additional 1,107,628 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.7%

Shares of NYSE:CVX opened at $149.11 on Monday. The company’s 50-day moving average price is $156.10 and its two-hundred day moving average price is $148.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the firm posted $2.55 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s payout ratio is 88.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Melius Research began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. TD Cowen upped their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Barclays reduced their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $165.40.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Chevron 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.