Chevron Corporation $CVX Shares Sold by Archford Capital Strategies LLC

Archford Capital Strategies LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 63.9% during the third quarter, HoldingsChannel.com reports. The firm owned 7,773 shares of the oil and gas company’s stock after selling 13,753 shares during the period. Archford Capital Strategies LLC’s holdings in Chevron were worth $1,207,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quaker Wealth Management LLC boosted its holdings in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares during the period. IMG Wealth Management Inc. boosted its holdings in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares during the period. GFG Capital LLC bought a new stake in shares of Chevron during the 2nd quarter valued at about $42,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of Chevron by 106.7% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 160 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $150.95 on Tuesday. The firm has a market capitalization of $303.93 billion, a PE ratio of 21.23, a P/E/G ratio of 9.00 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $152.04 and a 200 day moving average price of $152.92. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. Chevron’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.48 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Mizuho boosted their price objective on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $166.00.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.