Good Steward Wealth Advisors LLC Sells 1,848 Shares of Chevron Corporation $CVX

Key Points

• Good Steward Wealth Advisors LLC reduced its holdings in Chevron Corporation by 31.8%, dropping to 3,963 shares valued at $567,000, according to their recent SEC filing.
• Chevron announced a quarterly dividend of $1.71, resulting in an annualized dividend of $6.84 and a yield of 4.4%, with a payout ratio of 88.03%.
• Chevron's stock currently has a consensus rating of "Hold" with a price target of $164.80, reflecting mixed ratings from analysts regarding future growth potential.

Good Steward Wealth Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 31.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,963 shares of the oil and gas company's stock after selling 1,848 shares during the period. Good Steward Wealth Advisors LLC's holdings in Chevron were worth $567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. GQG Partners LLC purchased a new position in Chevron in the first quarter worth $1,466,751,000. Nuveen LLC purchased a new position in Chevron in the first quarter worth $1,362,232,000. GAMMA Investing LLC grew its position in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock worth $316,483,000 after acquiring an additional 1,107,628 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value 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. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. 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 research report on Wednesday. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. UBS Group upped their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Piper Sandler upped their price target 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. Finally, Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $164.80.

Chevron Trading Down 0.6%

Shares of Chevron stock traded down $1.02 during trading on Friday, reaching $157.23. 5,545,397 shares of the stock were exchanged, compared to its average volume of 7,652,500. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average is $154.67 and its 200 day moving average is $148.79. The firm has a market cap of $271.69 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90. 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 posted its 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 analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is currently 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.