Prospera Financial Services Inc Boosts Stock Holdings in Chevron Corporation $CVX

Prospera Financial Services Inc grew its position in Chevron Corporation (NYSE:CVX) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,189 shares of the oil and gas company’s stock after acquiring an additional 5,440 shares during the quarter. Prospera Financial Services Inc’s holdings in Chevron were worth $21,226,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AGF Management Ltd. raised its stake in Chevron by 53.4% in the 2nd quarter. AGF Management Ltd. now owns 47,976 shares of the oil and gas company’s stock valued at $6,870,000 after purchasing an additional 16,699 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of Chevron by 24.9% during the second quarter. AE Wealth Management LLC now owns 423,382 shares of the oil and gas company’s stock worth $60,624,000 after buying an additional 84,493 shares in the last quarter. Stokes Family Office LLC raised its position in shares of Chevron by 10.7% in the second quarter. Stokes Family Office LLC now owns 65,865 shares of the oil and gas company’s stock valued at $9,431,000 after buying an additional 6,341 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Chevron in the second quarter valued at about $1,220,000. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Chevron by 9.8% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 818 shares of the oil and gas company’s stock worth $117,000 after buying an additional 73 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.4%

Shares of CVX opened at $155.10 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market cap of $268.01 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The company’s 50-day moving average price is $155.55 and its 200 day moving average price is $149.62. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the business earned $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Scotiabank increased their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Morgan Stanley increased their price target on Chevron from $174.00 to $177.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Raymond James Financial reissued an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average target price of $165.40.

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.