Sfmg LLC Sells 8,541 Shares of Chevron Co. (NYSE:CVX)

Sfmg LLC lessened its stake in Chevron Co. (NYSE:CVX) by 45.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,448 shares of the oil and gas company’s stock after selling 8,541 shares during the period. Sfmg LLC’s holdings in Chevron were worth $1,634,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Chevron by 57.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 336,136 shares of the oil and gas company’s stock worth $52,578,000 after purchasing an additional 121,980 shares during the last quarter. Gateway Advisory LLC grew its holdings in Chevron by 20.6% during the 2nd quarter. Gateway Advisory LLC now owns 6,636 shares of the oil and gas company’s stock worth $1,038,000 after acquiring an additional 1,135 shares during the period. Strata Wealth Advisors LLC acquired a new stake in Chevron during the 2nd quarter worth $262,000. Semmax Financial Advisors Inc. grew its holdings in Chevron by 21.8% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,209 shares of the oil and gas company’s stock worth $751,000 after acquiring an additional 932 shares during the period. Finally, Mill Creek Capital Advisors LLC grew its holdings in Chevron by 3.2% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock worth $659,000 after acquiring an additional 131 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.1 %

CVX opened at $147.45 on Wednesday. The stock has a market capitalization of $269.67 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.68 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The firm’s fifty day simple moving average is $147.64 and its 200 day simple moving average is $154.50. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.08 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.42%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CVX shares. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial lowered their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank lowered their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $182.41.

About Chevron

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.