Sowell Financial Services LLC Sells 6,325 Shares of Chevron Corporation $CVX

Sowell Financial Services LLC reduced its position in Chevron Corporation (NYSE:CVX) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,374 shares of the oil and gas company’s stock after selling 6,325 shares during the quarter. Sowell Financial Services LLC’s holdings in Chevron were worth $11,394,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quaker Wealth Management LLC boosted its holdings in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares during the period. IMG Wealth Management Inc. raised its position in shares of Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares in the last quarter. GFG Capital LLC bought a new stake in Chevron during the second quarter valued at $42,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Chevron by 106.7% during the second quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Down 0.3%

Shares of CVX opened at $150.06 on Monday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $152.11 and a two-hundred day simple moving average of $152.88. The firm has a market cap of $302.14 billion, a P/E ratio of 21.10, a P/E/G ratio of 9.00 and a beta of 0.68.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period in the previous year, the business posted $2.48 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Wells Fargo & Company boosted their price objective on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Morgan Stanley raised their target price on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Mizuho boosted their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, Bank of America decreased their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $166.00.

Chevron 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.