Wealth Alliance Advisory Group LLC Sells 3,336 Shares of Chevron Corporation $CVX

Wealth Alliance Advisory Group LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,118 shares of the oil and gas company’s stock after selling 3,336 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Chevron were worth $3,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. White Knight Strategic Wealth Advisors LLC raised its position in Chevron by 3.0% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 65 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Chevron by 7.4% in the 2nd quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 66 shares during the period. Analyst IMS Investment Management Services Ltd. raised its holdings in shares of Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after buying an additional 67 shares in the last quarter. M.E. Allison & CO. Inc. lifted its position in shares of Chevron by 0.6% during the 3rd quarter. M.E. Allison & CO. Inc. now owns 11,204 shares of the oil and gas company’s stock worth $1,740,000 after buying an additional 67 shares during the period. Finally, Greenfield Savings Bank lifted its position in shares of Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 68 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. Raymond James Financial reissued an “outperform” rating and set a $160.00 price target (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Zacks Research cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $166.00.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

CVX opened at $150.47 on Wednesday. The stock has a market cap of $302.97 billion, a P/E ratio of 21.16, a P/E/G ratio of 8.90 and a beta of 0.68. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $152.23 and a 200 day simple moving average of $152.73.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.