Gradient Investments LLC Has $34.90 Million Stock Position in Chevron Co. (NYSE:CVX)

Gradient Investments LLC lowered its stake in Chevron Co. (NYSE:CVX) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 221,783 shares of the oil and gas company’s stock after selling 1,400 shares during the quarter. Chevron comprises approximately 0.9% of Gradient Investments LLC’s holdings, making the stock its 27th largest holding. Gradient Investments LLC’s holdings in Chevron were worth $34,898,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Rebalance LLC acquired a new stake in Chevron during the 4th quarter worth $26,000. NewSquare Capital LLC raised its stake in Chevron by 52.3% during the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after buying an additional 67 shares during the period. Artemis Wealth Advisors LLC acquired a new stake in Chevron during the 1st quarter worth $33,000. Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth $36,000. Finally, HBC Financial Services PLLC acquired a new stake in Chevron during the 1st quarter worth $37,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Truist Financial lifted their price target on Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, July 31st. Mizuho lifted their price target on Chevron from $209.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $166.00 to $187.00 in a research note on Monday, July 31st. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $161.00 to $170.00 in a research note on Wednesday, May 31st. Finally, StockNews.com assumed coverage on Chevron in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.61.

Insider Activity

In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the transaction, the chief financial officer now directly owns 6,021 shares in the company, valued at $987,444. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the transaction, the vice president now directly owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now directly owns 6,021 shares in the company, valued at approximately $987,444. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Chevron Trading Up 0.4 %

Chevron stock opened at $167.22 on Tuesday. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.43. The stock has a market capitalization of $312.24 billion, a P/E ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18. The stock has a 50-day simple moving average of $160.80 and a 200 day simple moving average of $160.15.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. The firm had revenue of $48.90 billion during the quarter, compared to the consensus estimate of $48 billion. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The business’s revenue for the quarter was down 28.9% compared to the same quarter last year. During the same period last year, the business posted $5.82 earnings per share. Analysts expect that Chevron Co. will post 13.23 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were given a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. Chevron’s payout ratio is 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.