ForthRight Wealth Management LLC Sells 1,609 Shares of Chevron Co. (NYSE:CVX)



ForthRight Wealth Management LLC decreased its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 84.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 306 shares of the oil and gas company’s stock after selling 1,609 shares during the period. ForthRight Wealth Management LLC’s holdings in Chevron were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CVX. Schonfeld Strategic Advisors LLC raised its stake in Chevron by 33.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 26,966 shares of the oil and gas company’s stock worth $2,735,000 after purchasing an additional 6,830 shares in the last quarter. Studio Investment Management LLC acquired a new stake in Chevron in the 3rd quarter worth about $1,680,000. Gyon Technologies Capital Management LP raised its stake in Chevron by 45.1% in the 3rd quarter. Gyon Technologies Capital Management LP now owns 12,324 shares of the oil and gas company’s stock worth $1,250,000 after purchasing an additional 3,833 shares in the last quarter. Wealthsource Partners LLC raised its stake in Chevron by 1.2% in the 3rd quarter. Wealthsource Partners LLC now owns 28,096 shares of the oil and gas company’s stock worth $2,850,000 after purchasing an additional 330 shares in the last quarter. Finally, Brick & Kyle Associates raised its position in shares of Chevron by 7.8% in the 3rd quarter. Brick & Kyle Associates now owns 33,912 shares of the oil and gas company’s stock valued at $3,476,000 after buying an additional 2,445 shares in the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

CVX opened at $147.57 on Tuesday. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The firm has a market capitalization of $289.95 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.63 and a beta of 1.09. The company’s 50 day moving average price is $165.76 and its two-hundred day moving average price is $150.47.

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The firm had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 17.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Thursday, May 19th were paid a $1.42 dividend. This represents a $5.68 dividend on an annual basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio is currently 53.38%.

In related news, Director Wanda M. Austin sold 12,039 shares of the business’s stock in a transaction 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 transaction, the director now owns 3,543 shares in the company, valued at approximately $628,138.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now owns 788 shares in the company, valued at approximately $125,662.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 561,726 shares of company stock worth $94,057,396. Insiders own 0.32% of the company’s stock.

Several equities analysts have recently commented on the stock. Credit Suisse Group boosted their target price on shares of Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, June 9th. Royal Bank of Canada cut shares of Chevron from an “outperform” rating to a “sector performer” rating and boosted their target price for the company from $160.00 to $165.00 in a research report on Thursday, April 21st. The Goldman Sachs Group dropped their target price on shares of Chevron from $181.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, June 22nd. UBS Group boosted their target price on shares of Chevron from $150.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, April 5th. Finally, Societe Generale cut shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Friday, May 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price 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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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