GPS Wealth Strategies Group LLC Sells 3,766 Shares of Chevron Corporation $CVX

GPS Wealth Strategies Group LLC trimmed its stake in Chevron Corporation (NYSE:CVX) by 82.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 776 shares of the oil and gas company’s stock after selling 3,766 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Chevron were worth $118,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. State Street Corp raised its position in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Northern Trust Corp increased its position in Chevron by 15.3% during the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after buying an additional 3,007,403 shares in the last quarter. Fisher Asset Management LLC increased its position in Chevron by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after buying an additional 325,255 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after buying an additional 4,279,918 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Chevron Stock Up 0.3%

Shares of CVX stock opened at $191.51 on Friday. The stock’s 50-day simple moving average is $193.54 and its 200-day simple moving average is $174.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market capitalization of $381.42 billion, a PE ratio of 33.19, a P/E/G ratio of 0.64 and a beta of 0.51. Chevron Corporation has a fifty-two week low of $134.06 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.18 earnings per share. Equities analysts expect that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. Chevron’s dividend payout ratio is currently 123.40%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. Morgan Stanley upped their target price on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho upped their target price on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Tuesday, February 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.22.

Insiders Place Their Bets

In other news, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares in the company, valued at $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,179,699 shares of company stock valued at $224,675,517. Insiders own 0.56% of the company’s stock.

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.