Chevron Co. (NYSE:CVX) Position Lessened by Pure Financial Advisors LLC

Pure Financial Advisors LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,194 shares of the oil and gas company’s stock after selling 128 shares during the quarter. Pure Financial Advisors LLC’s holdings in Chevron were worth $1,595,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC increased its position in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $30,000. Cooksen Wealth LLC acquired a new stake in Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC grew its position in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.3 %

Shares of NYSE:CVX traded up $0.47 during mid-day trading on Friday, hitting $147.27. The stock had a trading volume of 6,874,416 shares, compared to its average volume of 7,882,654. The company’s 50 day moving average is $153.82 and its 200-day moving average is $155.92. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $271.41 billion, a PE ratio of 13.55, a P/E/G ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada dropped their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Company Profile

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.