Franklin Street Advisors Inc. NC Has $3.63 Million Position in Chevron Co. (NYSE:CVX)

Franklin Street Advisors Inc. NC reduced its stake in Chevron Co. (NYSE:CVXGet Rating) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,086 shares of the oil and gas company’s stock after selling 561 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Chevron were worth $3,632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Your Advocates Ltd. LLP acquired a new position in shares of Chevron during the first quarter worth approximately $25,000. Cordant Inc. bought a new stake in shares of Chevron during the first quarter valued at approximately $29,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $30,000. Landmark Wealth Management LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $34,000. Finally, Byrne Asset Management LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $36,000. 69.30% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock opened at $154.89 on Friday. The business’s 50-day simple moving average is $155.74 and its 200 day simple moving average is $160.31. The stock has a market cap of $304.33 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.60 and a beta of 1.15. Chevron Co. has a 12-month low of $97.75 and a 12-month high of $182.40. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm’s quarterly revenue was up 82.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.71 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.67%. The ex-dividend date was Thursday, August 18th. Chevron’s dividend payout ratio is 37.89%.

Insider Activity at Chevron

In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chevron news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 3,560 shares in the company, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock worth $23,024,499 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVX shares. Wells Fargo & Company boosted their price objective on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Morgan Stanley boosted their price objective on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 6th. Credit Suisse Group reiterated an “outperform” rating and issued a $202.00 price target on shares of Chevron in a research report on Thursday, August 11th. Cowen increased their price objective on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Finally, Truist Financial dropped their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

About Chevron

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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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