Chevron Co. (NYSE:CVX) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,401 shares of the oil and gas company’s stock after selling 556 shares during the quarter. PFG Investments LLC’s holdings in Chevron were worth $7,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. increased its position in Chevron by 16.0% during the second quarter. Sunbelt Securities Inc. now owns 39,799 shares of the oil and gas company’s stock worth $6,225,000 after buying an additional 5,481 shares during the period. William B. Walkup & Associates Inc. acquired a new position in shares of Chevron in the 2nd quarter valued at $819,000. Wallace Advisory Group LLC raised its position in Chevron by 1.9% in the 2nd quarter. Wallace Advisory Group LLC now owns 44,323 shares of the oil and gas company’s stock valued at $6,933,000 after purchasing an additional 808 shares during the last quarter. Quarry LP boosted its stake in Chevron by 172.2% during the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 260 shares during the period. Finally, Regal Investment Advisors LLC grew its position in Chevron by 3.7% during the 2nd quarter. Regal Investment Advisors LLC now owns 55,951 shares of the oil and gas company’s stock worth $8,752,000 after purchasing an additional 1,988 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Raymond James increased their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Four 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.27.

Chevron Price Performance

CVX stock opened at $157.20 on Tuesday. The company has a market cap of $282.50 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.37 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $153.81 and a 200-day moving average of $151.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the business earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Chevron 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.