Peterson Wealth Services Cuts Holdings in Chevron Corporation $CVX

Peterson Wealth Services cut its stake in shares of Chevron Corporation (NYSE:CVX) by 7.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,492 shares of the oil and gas company’s stock after selling 123 shares during the period. Peterson Wealth Services’ holdings in Chevron were worth $214,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Richards Merrill & Peterson Inc. boosted its holdings in Chevron by 12.8% in the second quarter. Richards Merrill & Peterson Inc. now owns 27,073 shares of the oil and gas company’s stock valued at $3,877,000 after purchasing an additional 3,066 shares in the last quarter. PKO Investment Management Joint Stock Co grew its position in shares of Chevron by 4.9% in the 2nd quarter. PKO Investment Management Joint Stock Co now owns 49,273 shares of the oil and gas company’s stock valued at $7,055,000 after buying an additional 2,300 shares during the last quarter. DDD Partners LLC raised its stake in Chevron by 11.6% during the 2nd quarter. DDD Partners LLC now owns 154,261 shares of the oil and gas company’s stock worth $22,089,000 after acquiring an additional 15,993 shares in the last quarter. Moloney Securities Asset Management LLC lifted its position in Chevron by 2.2% in the second quarter. Moloney Securities Asset Management LLC now owns 26,399 shares of the oil and gas company’s stock valued at $3,780,000 after acquiring an additional 560 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC increased its position in shares of Chevron by 39.3% during the second quarter. Jackson Hole Capital Partners LLC now owns 18,207 shares of the oil and gas company’s stock worth $2,607,000 after purchasing an additional 5,140 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Wells Fargo & Company assumed coverage on shares of Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Finally, UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $165.25.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the 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 directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $155.63 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 company’s 50-day moving average price is $156.04 and its 200 day moving average price is $148.38. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $268.92 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.45 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.55 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is 88.03%.

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.