PFG Advisors Has $6.56 Million Stake in Chevron Corporation $CVX

PFG Advisors boosted its holdings in Chevron Corporation (NYSE:CVX) by 10.9% in the second quarter, Holdings Channel reports. The firm owned 45,796 shares of the oil and gas company’s stock after purchasing an additional 4,494 shares during the quarter. PFG Advisors’ holdings in Chevron were worth $6,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in Chevron during the first quarter valued at approximately $31,000. Quaker Wealth Management LLC boosted its position in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Investment Management Corp VA ADV grew its stake in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. Finally, IMG Wealth Management Inc. grew its stake in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $155.10 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $268.01 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83. The company has a 50-day simple moving average of $155.55 and a 200 day simple moving average of $149.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

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

Chevron Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVX shares. Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Piper Sandler upped their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Scotiabank boosted their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $165.40.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

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.