Apollon Wealth Management LLC Sells 191 Shares of Chevron Co. (NYSE:CVX)

Apollon Wealth Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,942 shares of the oil and gas company’s stock after selling 191 shares during the period. Apollon Wealth Management LLC’s holdings in Chevron were worth $10,627,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pacifica Partners Inc. boosted its stake in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC grew its stake in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares during the period. Montz Harcus Wealth Management LLC grew its holdings in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC grew its holdings in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the period. Finally, Ellenbecker Investment Group boosted its stake in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial lowered their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Wells Fargo & Company lifted their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of CVX traded down $0.40 during trading hours on Monday, hitting $146.87. The stock had a trading volume of 5,966,872 shares, compared to its average volume of 7,870,622. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The stock has a market capitalization of $270.68 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.42 and a beta of 1.10. The company’s fifty day moving average is $153.82 and its two-hundred day moving average is $156.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the company earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.44%. Chevron’s payout ratio is presently 59.98%.

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.