Conservest Capital Advisors Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 46.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,000 shares of the oil and gas company’s stock after selling 22,597 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Chevron were worth $3,287,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Accident Compensation Corp acquired a new position in shares of Chevron during the fourth quarter worth $476,000. NuWave Investment Management LLC acquired a new position in shares of Chevron during the fourth quarter worth $747,000. EFG Asset Management Americas Corp. lifted its holdings in shares of Chevron by 60.0% during the fourth quarter. EFG Asset Management Americas Corp. now owns 29,749 shares of the oil and gas company’s stock worth $3,724,000 after purchasing an additional 11,154 shares during the period. Evermay Wealth Management LLC lifted its holdings in shares of Chevron by 67.4% during the fourth quarter. Evermay Wealth Management LLC now owns 4,362 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 1,756 shares during the period. Finally, Buckley Wealth Management LLC acquired a new position in shares of Chevron during the fourth quarter worth $6,983,000. Institutional investors and hedge funds own 65.02% of the company’s stock.
In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $124.20, for a total value of $589,950.00. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $589,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.38% of the company’s stock.
Shares of NYSE CVX opened at $119.81 on Friday. Chevron Co. has a twelve month low of $107.04 and a twelve month high of $133.88. The firm has a market cap of $230.61 billion, a P/E ratio of 32.38, a PEG ratio of 2.12 and a beta of 1.10. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.
Chevron (NYSE:CVX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the prior year, the business earned $0.77 EPS. Chevron’s quarterly revenue was up 22.5% on a year-over-year basis. research analysts predict that Chevron Co. will post 8.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s dividend payout ratio (DPR) is currently 121.08%.
A number of equities analysts have recently commented on CVX shares. Raymond James upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Wells Fargo & Co lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. ValuEngine lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $141.00 price target on shares of Chevron in a report on Tuesday, July 31st. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $138.49.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.
Recommended Story: Diversification For Individual Investors
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.