Chevron Corporation $CVX Shares Sold by GM Advisory Group LLC

Key Points

• GM Advisory Group LLC has reduced its holdings in Chevron Corporation by 12.6%, now owning 17,151 shares worth approximately $2.87 million.
• Chevron recently reported earnings of $1.77 EPS for the quarter, exceeding analysts' expectations, although revenue was down 12.4% from the previous year.
• The company is set to pay a quarterly dividend of $1.71 per share on September 10th, reflecting a 4.5% dividend yield with a payout ratio of 88.03%.

GM Advisory Group LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,151 shares of the oil and gas company's stock after selling 2,470 shares during the quarter. GM Advisory Group LLC's holdings in Chevron were worth $2,869,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CoreCap Advisors LLC increased its position in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after purchasing an additional 71 shares in the last quarter. GDS Wealth Management boosted its holdings in Chevron by 4.4% in the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 72 shares during the period. Clayton Financial Group LLC boosted its holdings in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 75 shares during the period. Gill Capital Partners LLC boosted its holdings in Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after acquiring an additional 75 shares during the period. Finally, Cordatus Wealth Management LLC boosted its holdings in Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Up 1.5%

Shares of Chevron stock traded up $2.3470 on Friday, hitting $157.8970. 9,080,229 shares of the company's stock traded hands, compared to its average volume of 8,166,027. The stock has a market cap of $272.84 billion, a P/E ratio of 20.32, a PEG ratio of 2.31 and a beta of 0.87. 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 firm's 50-day moving average is $151.21 and its 200 day moving average is $148.66. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 EPS. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVX shares. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Evercore ISI restated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Melius started coverage on Chevron in a report on Wednesday. They issued a "hold" rating and a $155.00 price target for the company. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $163.95.

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.