JNBA Financial Advisors Sells 175 Shares of Chevron Corporation $CVX

JNBA Financial Advisors cut its holdings in Chevron Corporation (NYSE:CVX) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,340 shares of the oil and gas company’s stock after selling 175 shares during the quarter. JNBA Financial Advisors’ holdings in Chevron were worth $621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP bought a new position in shares of Chevron during the 1st quarter valued at $31,000. Cloud Capital Management LLC bought a new position in shares of Chevron during the 1st quarter valued at $39,000. Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the period. Finally, GFG Capital LLC bought a new position in shares of Chevron during the 2nd quarter valued at $42,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank raised their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Barclays decreased their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Wednesday. Finally, Piper Sandler raised their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Trading Down 1.7%

Shares of CVX stock opened at $149.11 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market capitalization of $257.66 billion, a PE ratio of 19.19, a PEG ratio of 1.95 and a beta of 0.84. The stock has a fifty day simple moving average of $156.10 and a two-hundred day simple moving average of $148.67.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.