NewEdge Advisors LLC Has $70.82 Million Stake in Chevron Corporation $CVX

NewEdge Advisors LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 494,604 shares of the oil and gas company’s stock after selling 17,700 shares during the quarter. NewEdge Advisors LLC’s holdings in Chevron were worth $70,822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Analyst IMS Investment Management Services Ltd. raised its holdings in Chevron by 1.0% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after purchasing an additional 67 shares during the period. Greenfield Savings Bank lifted its holdings in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC grew its stake in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC increased its holdings in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares in the last quarter. Finally, Clarity Wealth Advisors LLC increased its holdings in shares of Chevron by 1.7% in the second quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after acquiring an additional 69 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.1%

Chevron stock opened at $148.57 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a fifty day simple moving average of $152.94 and a 200 day simple moving average of $151.90. The company has a market cap of $299.15 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 8.77 and a beta of 0.68.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the prior year, the business posted $2.48 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Barclays cut their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company lifted their price target on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $166.16.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.20% 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.