PFG Advisors Sells 467 Shares of Chevron Co. (NYSE:CVX)

PFG Advisors reduced its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,160 shares of the oil and gas company’s stock after selling 467 shares during the period. PFG Advisors’ holdings in Chevron were worth $2,484,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. Your Advocates Ltd. LLP acquired a new stake in Chevron during the 1st quarter worth about $25,000. Cordant Inc. acquired a new stake in Chevron during the 1st quarter worth about $29,000. Joseph P. Lucia & Associates LLC acquired a new stake in Chevron during the 1st quarter worth about $30,000. Orion Capital Management LLC grew its holdings in Chevron by 85.0% during the 1st quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 102 shares during the period. Finally, Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth about $36,000. 69.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Barclays raised their target price on Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. Piper Sandler raised their target price on Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Morgan Stanley raised their target price on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 6th. Credit Suisse Group restated an “outperform” rating and issued a $202.00 target price on shares of Chevron in a research note on Thursday, August 11th. Finally, HSBC upgraded 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Chevron Price Performance

Chevron stock opened at $154.89 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The stock has a market cap of $304.33 billion, a P/E ratio of 10.33, a P/E/G ratio of 0.60 and a beta of 1.15. The company’s 50 day moving average price is $155.74 and its two-hundred day moving average price is $160.31. Chevron Co. has a 52 week low of $97.75 and a 52 week high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. Chevron’s revenue was up 82.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 EPS. On average, equities analysts predict that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Dividend Announcement

The business 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. The ex-dividend date was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.67%. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

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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