Sheaff Brock Investment Advisors LLC Sells 1,915 Shares of Chevron Co. (NYSE:CVX)

Sheaff Brock Investment Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,763 shares of the oil and gas company’s stock after selling 1,915 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Chevron were worth $5,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Soltis Investment Advisors LLC boosted its holdings in Chevron by 0.4% in the first quarter. Soltis Investment Advisors LLC now owns 26,413 shares of the oil and gas company’s stock valued at $4,301,000 after acquiring an additional 100 shares during the last quarter. SouthState Corp boosted its holdings in Chevron by 1.9% in the first quarter. SouthState Corp now owns 75,818 shares of the oil and gas company’s stock valued at $12,345,000 after acquiring an additional 1,422 shares during the last quarter. Hilton Capital Management LLC bought a new stake in Chevron in the first quarter valued at approximately $351,000. Quadrant Capital Group LLC boosted its holdings in Chevron by 6.9% in the first quarter. Quadrant Capital Group LLC now owns 15,613 shares of the oil and gas company’s stock valued at $2,542,000 after acquiring an additional 1,012 shares during the last quarter. Finally, Sargent Investment Group LLC boosted its holdings in Chevron by 1.2% in the first quarter. Sargent Investment Group LLC now owns 8,723 shares of the oil and gas company’s stock valued at $1,420,000 after acquiring an additional 100 shares during the last quarter. 65.89% of the stock is currently owned by institutional investors.

Chevron Stock Down 2.7 %

Chevron stock opened at $151.14 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $296.96 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.15. The firm has a 50 day moving average price of $154.86 and a 200-day moving average price of $155.19. Chevron Co. has a twelve month low of $92.86 and a twelve month high of $182.40.

Chevron (NYSE:CVXGet Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same quarter last year, the business earned $1.71 earnings per share. The company’s quarterly revenue was up 82.9% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 17.51 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $172.00 target price on shares of Chevron in a report on Thursday. Piper Sandler dropped their price target on Chevron from $213.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Morgan Stanley boosted their price target on Chevron from $185.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Citigroup dropped their price target on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 13th. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating and dropped their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.

Insider Buying and Selling

In other Chevron news, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $164.85, for a total transaction of $923,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now directly owns 3,560 shares in the company, valued at $574,762. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Inchausti sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $164.85, for a total value of $923,160.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 399,043 shares of company stock valued at $67,010,843. Corporate insiders own 0.32% of the company’s stock.

Chevron Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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