MONECO Advisors LLC Reduces Position in Chevron Co. (NYSE:CVX)

MONECO Advisors LLC reduced its stake in Chevron Co. (NYSE:CVX) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,383 shares of the oil and gas company’s stock after selling 504 shares during the quarter. MONECO Advisors LLC’s holdings in Chevron were worth $2,875,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. American Capital Advisory LLC raised its holdings in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Bare Financial Services Inc purchased a new stake in shares of Chevron in the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter valued at $30,000. Cooksen Wealth LLC purchased a new position in Chevron during the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC boosted its stake in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.0 %

Shares of CVX stock traded down $0.07 on Monday, hitting $147.20. The stock had a trading volume of 1,681,468 shares, compared to its average volume of 7,843,672. The stock’s 50 day moving average is $153.82 and its 200-day moving average is $156.02. The firm has a market capitalization of $271.28 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio is presently 59.98%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

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.