EverSource Wealth Advisors LLC Sells 6,959 Shares of Chevron Corporation $CVX

EverSource Wealth Advisors LLC cut its position in Chevron Corporation (NYSE:CVX) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,240 shares of the oil and gas company’s stock after selling 6,959 shares during the period. EverSource Wealth Advisors LLC’s holdings in Chevron were worth $5,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVX. Vanguard Group Inc. increased its holdings in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. Norges Bank bought a new stake in Chevron during the 2nd quarter valued at $2,721,477,000. Bank of New York Mellon Corp raised its holdings in Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares during the last quarter. Finally, Berkshire Hathaway Inc lifted its stake in shares of 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 buying an additional 3,454,258 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 41,134 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the sale, the insider owned 4,169 shares in the company, valued at $735,411.60. This represents a 90.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Thomas Ryder Booth sold 1,122 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $182.37, for a total value of $204,619.14. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 534,898 shares of company stock worth $89,543,711. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $184.84 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $187.90. The company’s 50 day moving average price is $166.55 and its two-hundred day moving average price is $158.78. The stock has a market cap of $372.18 billion, a P/E ratio of 27.75, a P/E/G ratio of 12.17 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 8.23% and a net margin of 6.51%.Chevron’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.06 earnings per share. On average, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a $1.78 dividend. The ex-dividend date is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s dividend payout ratio is 106.91%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVX. Jefferies Financial Group boosted their target price on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Citigroup cut their price target on Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. Argus set a $203.00 target price on Chevron in a report on Tuesday, February 3rd. Finally, Barclays lifted their target price on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $176.36.

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.