Advisors Asset Management Inc. Has $31.91 Million Holdings in Chevron Corporation $CVX

Key Points

• Advisors Asset Management Inc. has reduced its holdings in Chevron Corporation by 3.4%, now owning 190,732 shares valued at approximately $31.91 million, which constitutes 0.6% of its investment portfolio.
• The company's quarterly earnings report revealed an EPS of $1.77, exceeding estimates, although revenue decreased by 12.4% year-over-year.
• Chevron recently announced a $1.71 quarterly dividend with a yield of 4.2%, reflecting a high dividend payout ratio of 88.03%.

Advisors Asset Management Inc. lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,732 shares of the oil and gas company's stock after selling 6,765 shares during the period. Chevron comprises 0.6% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 19th largest holding. Advisors Asset Management Inc.'s holdings in Chevron were worth $31,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new position in shares of Chevron in the 1st quarter valued at about $22,479,000. American Trust Investment Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at about $960,000. Aprio Wealth Management LLC increased its holdings in shares of Chevron by 42.4% in the 1st quarter. Aprio Wealth Management LLC now owns 7,185 shares of the oil and gas company's stock valued at $1,202,000 after purchasing an additional 2,138 shares during the period. 1 North Wealth Services LLC acquired a new position in shares of Chevron in the 1st quarter valued at about $45,000. Finally, Rench Wealth Management Inc. increased its holdings in Chevron by 1.3% in the first quarter. Rench Wealth Management Inc. now owns 31,666 shares of the oil and gas company's stock worth $5,297,000 after buying an additional 401 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVX shares. Wells Fargo & Company restated an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective on the stock. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $163.95.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 0.8%

Shares of Chevron stock opened at $161.82 on Wednesday. The company's fifty day simple moving average is $152.93 and its 200-day simple moving average is $148.86. The company has a market cap of $279.62 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.38 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.55 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

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.

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