First Dallas Securities Inc. Sells 950 Shares of Chevron Corporation $CVX

First Dallas Securities Inc. lowered its position in shares of Chevron Corporation (NYSE:CVX) by 33.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,924 shares of the oil and gas company’s stock after selling 950 shares during the period. First Dallas Securities Inc.’s holdings in Chevron were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Gateway Wealth Partners LLC purchased a new position in shares of Chevron in the 1st quarter valued at $210,000. Kathmere Capital Management LLC lifted its stake in shares of Chevron by 97.6% during the 1st quarter. Kathmere Capital Management LLC now owns 5,451 shares of the oil and gas company’s stock worth $912,000 after purchasing an additional 2,692 shares during the last quarter. Stephens Inc. AR boosted its position in Chevron by 5.4% during the first quarter. Stephens Inc. AR now owns 263,290 shares of the oil and gas company’s stock valued at $44,046,000 after purchasing an additional 13,374 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its position in Chevron by 2.0% during the first quarter. Fulton Breakefield Broenniman LLC now owns 96,265 shares of the oil and gas company’s stock valued at $16,104,000 after purchasing an additional 1,865 shares in the last quarter. Finally, Mason Investment Advisory Services Inc. purchased a new position in Chevron in the first quarter valued at about $306,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Chevron Trading Up 1.4%

Shares of NYSE:CVX opened at $155.10 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. 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 $268.01 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83. The business has a 50-day moving average price of $155.55 and a 200-day moving average price of $149.80.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share 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 company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 EPS. Chevron’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Piper Sandler increased their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Barclays cut their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.