Chevron Co. (NYSE:CVX) Shares Sold by Ellerson Group Inc. ADV

Ellerson Group Inc. ADV cut its holdings in shares of Chevron Co. (NYSE:CVX) by 12.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,885 shares of the oil and gas company’s stock after selling 422 shares during the period. Ellerson Group Inc. ADV’s holdings in Chevron were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Chevron in the fourth quarter valued at $2,902,007,000. Berkshire Hathaway Inc increased its holdings in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Capital World Investors increased its holdings in Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after buying an additional 4,596,584 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Chevron by 13.0% during the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.3 %

Shares of NYSE:CVX opened at $140.73 on Tuesday. The stock has a market cap of $257.38 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09. The firm has a fifty day moving average price of $150.50 and a 200 day moving average price of $155.16. 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 Co. has a 1-year low of $137.87 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business posted $3.08 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Barclays cut their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Mizuho upped their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.