PFG Advisors Sells 1,802 Shares of Chevron Co. (NYSE:CVX)

PFG Advisors cut its stake in shares of Chevron Co. (NYSE:CVX) by 4.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 37,538 shares of the oil and gas company’s stock after selling 1,802 shares during the period. PFG Advisors’ holdings in Chevron were worth $5,437,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CVX. Pettinga Financial Advisors LLC lifted its stake in Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares in the last quarter. United Bank lifted its stake in Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares in the last quarter. Ashton Thomas Securities LLC lifted its stake in Chevron by 33.2% during the 3rd quarter. Ashton Thomas Securities LLC now owns 3,001 shares of the oil and gas company’s stock valued at $442,000 after acquiring an additional 748 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in Chevron by 9.5% during the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 6,324 shares of the oil and gas company’s stock valued at $931,000 after acquiring an additional 547 shares in the last quarter. Finally, WCM Investment Management LLC raised its stake in shares of Chevron by 306.1% during the 3rd quarter. WCM Investment Management LLC now owns 11,009 shares of the oil and gas company’s stock worth $1,602,000 after purchasing an additional 8,298 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Down 2.3 %

CVX stock opened at $153.94 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $271.02 billion, a PE ratio of 15.84, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a 50-day simple moving average of $154.55 and a two-hundred day simple moving average of $151.91.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 EPS. On average, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.44%. Chevron’s payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron 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.