Chevron Corporation $CVX Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its holdings in Chevron Corporation (NYSE:CVX) by 40.2% during the third quarter, HoldingsChannel.com reports. The fund owned 28,709 shares of the oil and gas company’s stock after selling 19,327 shares during the period. RFG Advisory LLC’s holdings in Chevron were worth $4,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. White Knight Strategic Wealth Advisors LLC boosted its holdings in shares of Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 65 shares during the period. Vishria Bird Financial Group LLC increased its holdings in shares of Chevron by 1.2% in the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after acquiring an additional 65 shares during the period. Nexus Investment Management ULC lifted its position in Chevron by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 65 shares during the last quarter. Scott & Selber Inc. boosted its stake in Chevron by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after purchasing an additional 65 shares during the period. Finally, Rakuten Securities Inc. grew its position in Chevron by 7.4% in the 2nd quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 66 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of Chevron stock opened at $182.70 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $182.82. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a market cap of $367.87 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 12.11 and a beta of 0.70. The company’s 50-day moving average price is $159.90 and its two-hundred day moving average price is $156.66.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The company had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter in the previous year, the company posted $2.06 EPS. The business’s revenue was down 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a $1.78 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s dividend payout ratio is currently 102.70%.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 41,134 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the completion of the sale, the insider owned 4,169 shares in the company, valued at approximately $735,411.60. This represents a 90.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Thomas Ryder Booth sold 6,000 shares of Chevron stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $178.43, for a total value of $1,070,580.00. Following the completion of the transaction, the chief technology officer owned 476 shares in the company, valued at $84,932.68. The trade was a 92.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 793,158 shares of company stock worth $127,919,578. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. TD Cowen raised their price target on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Argus set a $203.00 target price on Chevron in a research report on Tuesday, February 3rd. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Raymond James Financial reissued an “outperform” rating and issued a $160.00 price target (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Morgan Stanley lowered their price target on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.00.

About Chevron

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.