Northern Financial Advisors Inc Sells 617 Shares of Chevron Corporation $CVX

Northern Financial Advisors Inc lessened its holdings in Chevron Corporation (NYSE:CVX) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,374 shares of the oil and gas company’s stock after selling 617 shares during the quarter. Northern Financial Advisors Inc’s holdings in Chevron were worth $626,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC bought a new position in Chevron during the 1st quarter worth approximately $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $154.92 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm’s 50 day moving average price is $156.15 and its two-hundred day moving average price is $148.84. The firm has a market cap of $267.70 billion, a P/E ratio of 19.94, a PEG ratio of 1.99 and a beta of 0.84.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVX shares. Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Morgan Stanley started coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. UBS Group lifted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $165.15.

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.