Chevron Corporation $CVX Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its position in Chevron Corporation (NYSE:CVX) by 40.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,709 shares of the oil and gas company’s stock after selling 19,327 shares during the quarter. RFG Advisory LLC’s holdings in Chevron were worth $4,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Chevron in the 2nd quarter valued at $2,721,477,000. Bank of New York Mellon Corp increased its holdings in Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after purchasing an additional 4,279,918 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in Chevron by 14,194.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after purchasing an additional 3,696,177 shares in the last quarter. Berkshire Hathaway Inc raised its position in Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after purchasing an additional 3,454,258 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Chevron by 32.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,125,735 shares of the oil and gas company’s stock worth $1,417,135,000 after purchasing an additional 2,218,283 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 1.0%

CVX opened at $182.70 on Tuesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $182.82. 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 market capitalization of $367.87 billion, a PE ratio of 27.43, a P/E/G ratio of 12.11 and a beta of 0.70. The firm’s fifty day moving average price is $159.90 and its 200 day moving average price is $156.66.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter in the previous year, the firm earned $2.06 EPS. The company’s revenue was down 10.2% on a year-over-year basis. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron’s payout ratio is currently 102.70%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the completion of the sale, the insider owned 7,161 shares of the company’s stock, valued at $1,247,231.37. This trade represents a 86.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 793,158 shares of company stock worth $127,919,578 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVX shares. Barclays raised their target price on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. Finally, Mizuho raised their price target on shares of Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $175.00.

Chevron Company 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.