Arete Wealth Advisors LLC Sells 716 Shares of Chevron Co. (NYSE:CVX)

Arete Wealth Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVXGet Rating) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,850 shares of the oil and gas company’s stock after selling 716 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Chevron were worth $2,092,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Norges Bank bought a new stake in Chevron in the 4th quarter valued at $3,111,594,000. Invesco Ltd. boosted its stake in shares of Chevron by 6.8% in the 4th quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after purchasing an additional 917,773 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Chevron by 534.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 946,854 shares of the oil and gas company’s stock valued at $111,113,000 after purchasing an additional 797,701 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Chevron by 28.9% in the 4th quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company’s stock valued at $381,845,000 after purchasing an additional 730,170 shares in the last quarter. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $84,849,000. Institutional investors own 65.89% of the company’s stock.

Insider Activity

In other news, insider David A. Inchausti sold 5,600 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total value of $923,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David A. Inchausti sold 5,600 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock valued at $67,010,843 in the last ninety days. 0.32% of the stock is owned by insiders.

Chevron Stock Performance

Chevron stock opened at $153.64 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. The company has a market cap of $301.87 billion, a PE ratio of 10.25, a PEG ratio of 0.61 and a beta of 1.15. The company’s 50-day moving average is $154.37 and its two-hundred day moving average is $155.35. Chevron Co. has a 1 year low of $92.86 and a 1 year high of $182.40.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. Chevron’s revenue was up 82.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 EPS. Equities analysts anticipate that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. Raymond James boosted their target price on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Morgan Stanley boosted their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Bank of America upped their price target on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Finally, Cowen reduced their price target on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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