Sovereign Financial Group Inc. Has $474,000 Holdings in Chevron Co. (NYSE:CVX)

Sovereign Financial Group Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 18.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,176 shares of the oil and gas company’s stock after selling 734 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Chevron were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Picton Mahoney Asset Management acquired a new stake in Chevron in the third quarter worth about $26,000. Bare Financial Services Inc acquired a new stake in Chevron in the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $33,000. Finally, Roble Belko & Company Inc boosted its holdings in shares of Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 13,247 shares of company stock valued at $2,154,164 over the last 90 days. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Mizuho increased their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Price Performance

Chevron stock traded up $0.34 during midday trading on Tuesday, reaching $162.64. The company’s stock had a trading volume of 6,868,786 shares, compared to its average volume of 8,465,725. The business has a 50-day moving average price of $157.62 and a 200-day moving average price of $151.45. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market cap of $300.40 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.55 EPS. On average, sell-side analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.01%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.