Chevron Corporation $CVX Shares Sold by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 15.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 39,891 shares of the oil and gas company’s stock after selling 7,304 shares during the period. Quotient Wealth Partners LLC’s holdings in Chevron were worth $8,254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Fortem Financial Group LLC purchased a new position in shares of Chevron during the 1st quarter worth about $334,000. Freedom Financial Partners LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $242,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Chevron by 34.3% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 204,534 shares of the oil and gas company’s stock valued at $42,310,000 after purchasing an additional 52,247 shares during the period. BlueSky Wealth Advisors LLC purchased a new stake in Chevron in the first quarter valued at approximately $271,000. Finally, Founders Financial Securities LLC increased its position in Chevron by 4.2% during the first quarter. Founders Financial Securities LLC now owns 20,254 shares of the oil and gas company’s stock worth $3,856,000 after purchasing an additional 822 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.1%

NYSE CVX opened at $173.51 on Monday. The company’s fifty day simple moving average is $186.63 and its 200-day simple moving average is $179.20. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $345.56 billion, a P/E ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last released its quarterly earnings results 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. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $2.18 EPS. Equities research analysts predict that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVX shares. Wells Fargo & Company increased their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Mizuho boosted their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley upped their price objective on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, UBS Group lifted their target price on Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eighteen 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

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.