Chevron Corporation $CVX Shares Sold by PFC Capital Group Inc.

PFC Capital Group Inc. lowered its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 28.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,613 shares of the oil and gas company's stock after selling 1,878 shares during the quarter. PFC Capital Group Inc.'s holdings in Chevron were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

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Several other institutional investors have also modified their holdings of the stock. Insigneo Advisory Services LLC grew its position in shares of Chevron by 18.4% in the 2nd quarter. Insigneo Advisory Services LLC now owns 22,538 shares of the oil and gas company's stock valued at $3,227,000 after buying an additional 3,501 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Chevron by 7.8% in the second quarter. CreativeOne Wealth LLC now owns 44,910 shares of the oil and gas company's stock valued at $6,431,000 after acquiring an additional 3,267 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Chevron by 0.5% during the second quarter. Ameritas Investment Partners Inc. now owns 52,359 shares of the oil and gas company's stock worth $7,496,000 after purchasing an additional 253 shares during the last quarter. TCP Asset Management LLC grew its holdings in shares of Chevron by 5.7% during the second quarter. TCP Asset Management LLC now owns 3,687 shares of the oil and gas company's stock worth $528,000 after purchasing an additional 199 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Chevron during the second quarter worth about $8,681,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Chevron Price Performance

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Shares of NYSE CVX opened at $149.93 on Monday. The stock has a fifty day moving average price of $154.83 and a 200 day moving average price of $150.95. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market cap of $301.89 billion, a PE ratio of 19.30, a P/E/G ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion during the quarter, compared to analysts' expectations of $46.99 billion. During the same period in the prior year, the company posted $2.48 earnings per share. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron's dividend payout ratio (DPR) is currently 96.20%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a report on Wednesday, October 8th. Piper Sandler cut their target price on shares of Chevron from $171.00 to $169.00 and set an "overweight" rating on the stock in a report on Monday, November 10th. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target for the company. Finally, Mizuho raised their price objective on shares of Chevron from $191.00 to $204.00 and gave the stock an "outperform" rating in a research report on Thursday, November 13th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $166.55.

View Our Latest Stock Analysis on CVX

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.

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