NewEdge Advisors LLC Sells 122,319 Shares of Chevron Corporation $CVX

NewEdge Advisors LLC lowered its holdings in Chevron Corporation (NYSE:CVX) by 9.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,212,537 shares of the oil and gas company’s stock after selling 122,319 shares during the quarter. Chevron accounts for about 0.9% of NewEdge Advisors LLC’s investment portfolio, making the stock its 15th largest position. NewEdge Advisors LLC’s holdings in Chevron were worth $250,874,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new position in Chevron during the 1st quarter valued at $25,000. Main Street Group LTD bought a new stake in Chevron in the 1st quarter valued at $28,000. Phillip James Consulting Co. acquired a new stake in Chevron in the 4th quarter worth $26,000. Core Wealth Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth about $26,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron during the 4th quarter worth about $27,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

NYSE:CVX opened at $186.48 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a 50-day moving average of $182.18 and a 200-day moving average of $185.64. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a market capitalization of $371.40 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.59 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 earnings per share. As a group, equities research analysts anticipate that Chevron Corporation will post 15.72 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVX shares. Scotiabank upped their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Barclays boosted their price target on Chevron from $213.00 to $216.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 100,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,190,665 shares of company stock valued at $230,782,076. 0.56% of the stock is owned by insiders.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s strong second-quarter performance continues to support the investment case: revenue reached approximately $70.1 billion, net income was $12.1 billion, production increased, and the company maintained its $1.78 quarterly dividend. Higher oil prices and refining margins boosted results. Chevron war-boosted margins and cash flows article
• Positive Sentiment: Chevron was cited among S&P 500 companies expected to generate substantial free cash flow this year, reinforcing its ability to fund dividends, buybacks and debt obligations. Its above-average income yield also makes the stock attractive to dividend-focused investors. Stocks with strong cash flow article
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205, while separate reports indicated that Barclays and Sanford C. Bernstein analysts also expect the shares to rise. However, TD Cowen retained a “hold” rating, limiting the bullish impact. TD Cowen price target report
• Neutral Sentiment: CEO Mike Wirth said Chevron is studying a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve Middle East export flexibility, but it remains only under evaluation and faces significant geopolitical and execution risks. Chevron pipeline route article
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares worth roughly $157.4 million, sharply reducing his holdings. Although insider sales may reflect personal or transaction-related factors, the size of the sale can weigh on investor sentiment. Chevron SEC insider transaction filing
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for profiting from elevated gasoline prices and called for companies to reduce consumer fuel prices or return some profits to the public. The comments raise regulatory, political and potential windfall-tax concerns, even though higher energy prices are currently benefiting Chevron’s earnings. Trump criticizes Chevron over profits article

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.