American Asset Management Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 49.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,167 shares of the oil and gas company’s stock after selling 2,121 shares during the quarter. American Asset Management Inc.’s holdings in Chevron were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BKD Wealth Advisors LLC raised its stake in Chevron by 2.5% in the fourth quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after buying an additional 763 shares in the last quarter. Dowling & Yahnke LLC raised its position in shares of Chevron by 2.4% during the 4th quarter. Dowling & Yahnke LLC now owns 63,624 shares of the oil and gas company’s stock valued at $7,567,000 after purchasing an additional 1,520 shares during the period. Andesa Financial Management Inc. grew its stake in Chevron by 52.7% during the fourth quarter. Andesa Financial Management Inc. now owns 24,829 shares of the oil and gas company’s stock valued at $2,704,000 after acquiring an additional 8,568 shares in the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Chevron by 4.8% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 11,930 shares of the oil and gas company’s stock worth $1,359,000 after buying an additional 551 shares in the last quarter. Finally, Northwest Wealth Management LLC boosted its stake in shares of Chevron by 11.3% during the 4th quarter. Northwest Wealth Management LLC now owns 2,846 shares of the oil and gas company’s stock worth $310,000 after purchasing an additional 288 shares during the period. Institutional investors own 66.45% of the company’s stock.
Several research firms have recently commented on CVX. Morgan Stanley dropped their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Citigroup initiated coverage on shares of Chevron in a research report on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective on the stock. Barclays initiated coverage on Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, BMO Capital Markets assumed coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target for the company. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus price target of $136.78.NYSE:CVX opened at $115.18 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The firm has a market capitalization of $223.50 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The stock has a fifty day simple moving average of $122.15 and a 200 day simple moving average of $121.39.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The business had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. During the same quarter last year, the company posted $1.78 EPS. Chevron’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 6.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.13%. Chevron’s dividend payout ratio (DPR) is 57.70%.
In related news, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total value of $980,000.00. Following the completion of the sale, the insider now directly owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael K. Wirth sold 33,750 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at $4,239,000. The disclosure for this sale can be found here. Insiders sold a total of 51,750 shares of company stock valued at $6,448,700 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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