Alliance Wealth Advisors LLC cut its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 60.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,492 shares of the oil and gas company’s stock after selling 3,887 shares during the period. Alliance Wealth Advisors LLC’s holdings in Chevron were worth $406,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Avondale Wealth Management acquired a new position in Chevron in the 4th quarter valued at about $26,000. Rational Advisors LLC grew its stake in Chevron by 116.3% in the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 121 shares during the last quarter. Curi Wealth Management LLC acquired a new position in Chevron in the 4th quarter valued at about $30,000. Byrne Asset Management LLC acquired a new position in Chevron in the 4th quarter valued at about $36,000. Finally, West Bancorporation Inc. acquired a new position in Chevron in the 4th quarter valued at about $37,000. Institutional investors own 65.89% of the company’s stock.
Shares of Chevron stock opened at $142.43 on Friday. The company has a 50 day moving average of $166.83 and a 200-day moving average of $149.63. The company has a market cap of $279.85 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.09. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The company had revenue of $54.37 billion for the quarter, compared to analyst estimates of $54.96 billion. Chevron had a return on equity of 14.66% and a net margin of 11.10%. Chevron’s revenue for the quarter was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. Research analysts forecast that Chevron Co. will post 17.5 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio is 53.38%.
In related news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the transaction, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Eimear P. Bonner sold 68,032 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $165.00, for a total transaction of $11,225,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 561,726 shares of company stock valued at $94,057,396. 0.32% of the stock is owned by corporate insiders.
A number of brokerages recently commented on CVX. Wells Fargo & Company upped their price target on shares of Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. BMO Capital Markets upped their price target on shares of Chevron from $140.00 to $170.00 in a research note on Wednesday, March 2nd. Cowen boosted their objective price on shares of Chevron from $165.00 to $179.00 in a report on Tuesday, June 7th. The Goldman Sachs Group cut their objective price on shares of Chevron from $181.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, UBS Group boosted their objective price on shares of Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.57.
About Chevron (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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