Relative Value Partners Group LLC trimmed its holdings in Chevron Co. (NYSE:CVX – Free Report) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,906 shares of the oil and gas company’s stock after selling 131 shares during the quarter. Relative Value Partners Group LLC’s holdings in Chevron were worth $1,453,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CVX. Rebalance LLC acquired a new position in Chevron in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC lifted its holdings in Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 67 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new position in Chevron in the first quarter valued at approximately $33,000. HBC Financial Services PLLC acquired a new position in Chevron in the first quarter valued at approximately $37,000. Finally, Worth Asset Management LLC acquired a new position in Chevron in the first quarter valued at approximately $36,000. 68.87% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CVX has been the topic of a number of recent analyst reports. Mizuho upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $205.00 to $209.00 in a report on Wednesday, August 16th. Citigroup decreased their price objective on Chevron from $180.00 to $170.00 in a report on Tuesday, July 11th. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $180.00 in a report on Thursday, June 1st. StockNews.com initiated coverage on Chevron in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Piper Sandler decreased their price target on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.28.
Insider Activity at Chevron
In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.
Chevron Stock Up 0.3 %
Chevron stock opened at $167.21 on Friday. Chevron Co. has a twelve month low of $140.46 and a twelve month high of $189.68. The stock’s fifty day simple moving average is $159.75 and its 200-day simple moving average is $160.01. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $312.22 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.89 and a beta of 1.18.
Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.95 by $0.13. The firm had revenue of $48.90 billion for the quarter, compared to analyst estimates of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. Chevron’s revenue for the quarter was down 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.82 earnings per share. As a group, equities analysts expect that Chevron Co. will post 13.19 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 3.61%. The ex-dividend date is Thursday, August 17th. Chevron’s dividend payout ratio (DPR) is presently 38.30%.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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