Bogart Wealth LLC Sells 26,531 Shares of Chevron Corporation $CVX

Bogart Wealth LLC trimmed its position in Chevron Corporation (NYSE:CVX) by 29.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 62,972 shares of the oil and gas company’s stock after selling 26,531 shares during the period. Bogart Wealth LLC’s holdings in Chevron were worth $13,029,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVX. Midwest Capital Advisors LLC bought a new stake in shares of Chevron during the 1st quarter valued at $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. purchased a new position in Chevron during the 4th quarter valued at about $26,000. Basso Capital Management L.P. purchased a new position in Chevron during the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new stake in Chevron during the fourth quarter worth about $27,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Barclays raised their target price on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Scotiabank lifted their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Finally, TD Cowen upped their price target on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Chevron Stock Performance

Shares of NYSE CVX opened at $168.14 on Tuesday. The firm’s 50-day moving average price is $183.31 and its 200-day moving average price is $180.61. Chevron Corporation has a 52-week low of $145.58 and a 52-week high of $214.71. The company has a market cap of $334.87 billion, a PE ratio of 29.14, a PEG ratio of 0.57 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the firm earned $2.18 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 15.52 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.56% of the stock is owned by insiders.

Chevron Company 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.