Avidian Wealth Solutions LLC Has $5.08 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Avidian Wealth Solutions LLC cut its holdings in Chevron Co. (NYSE:CVX) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 34,057 shares of the oil and gas company’s stock after selling 1,475 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Chevron were worth $5,080,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter valued at approximately $26,000. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Finally, Legacy Financial Group LLC bought a new position in shares of Chevron in the third quarter valued at approximately $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, HSBC boosted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Price Performance

Shares of NYSE:CVX traded down $0.48 on Friday, hitting $160.25. The stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm’s 50 day moving average price is $157.26 and its 200-day moving average price is $151.76. The company has a market capitalization of $297.63 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.07%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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; 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.