SS&H Financial Advisors Inc. Trims Holdings in Chevron Corporation $CVX

SS&H Financial Advisors Inc. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,312 shares of the oil and gas company’s stock after selling 400 shares during the quarter. SS&H Financial Advisors Inc.’s holdings in Chevron were worth $1,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ignite Planners LLC raised its stake in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after buying an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its stake in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after purchasing an additional 495 shares during the last quarter. Capital Advisors Inc. OK raised its stake in shares of Chevron by 0.3% in the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after purchasing an additional 1,755 shares during the last quarter. GW&K Investment Management LLC raised its position in Chevron by 33.8% during the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 318 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in Chevron by 7.3% during the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after acquiring an additional 6,058 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 2.6%

Shares of CVX opened at $157.58 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock’s 50 day moving average is $156.07 and its two-hundred day moving average is $149.11. The firm has a market cap of $272.30 billion, a P/E ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the company earned $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. Melius began coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Piper Sandler lifted their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus price target of $165.25.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

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.