Prospera Financial Services Inc Acquires 2,689 Shares of Chevron Corporation $CVX

Prospera Financial Services Inc grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 151,846 shares of the oil and gas company’s stock after purchasing an additional 2,689 shares during the period. Prospera Financial Services Inc’s holdings in Chevron were worth $23,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CVX. Vanguard Group Inc. boosted its position in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares during the last quarter. State Street Corp boosted its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Chevron during the 3rd quarter valued at about $988,083,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after acquiring an additional 5,537,580 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $191.51 on Friday. The stock has a market cap of $381.42 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 0.64 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1-year low of $134.06 and a 1-year high of $214.71. The stock’s 50-day moving average is $193.54 and its 200 day moving average is $174.60.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVX shares. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. Sanford C. Bernstein dropped their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Citigroup lifted their price target on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Mizuho raised their price objective on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Finally, Argus set a $203.00 price objective on Chevron in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $204.22.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at $5,920,217.10. The trade was a 89.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,179,699 shares of company stock worth $224,675,517. 0.56% of the stock is currently owned by corporate insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.