AdvisorNet Financial Inc Sells 2,144 Shares of Chevron Co. (NYSE:CVX)

AdvisorNet Financial Inc trimmed its holdings in Chevron Co. (NYSE:CVXFree Report) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,825 shares of the oil and gas company’s stock after selling 2,144 shares during the quarter. AdvisorNet Financial Inc’s holdings in Chevron were worth $1,764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Picton Mahoney Asset Management purchased a new position in Chevron in the 3rd quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV increased its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the 3rd quarter valued at about $35,000. Valued Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter worth about $33,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron in the 1st quarter worth about $36,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Mizuho boosted their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Finally, TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $180.39.

Get Our Latest Research Report on Chevron

Chevron Trading Up 0.9 %

Chevron stock opened at $157.74 on Monday. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88. The firm has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.42 and a beta of 1.12. The firm has a 50-day moving average price of $152.23 and a two-hundred day moving average price of $152.57. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the previous year, the firm earned $4.09 EPS. Chevron’s revenue was down 16.5% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

About Chevron

(Free Report)

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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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