Janney Montgomery Scott LLC Has $172.68 Million Stock Position in Chevron Corporation $CVX

Key Points

• Janney Montgomery Scott LLC reduced its stake in Chevron Corporation by 0.4%, holding approximately $172.68 million in shares after selling 4,737 shares during the second quarter.
• Chevron recently announced a quarterly dividend of $1.71, reflecting a 4.4% dividend yield, while holding a payout ratio of 88.03%.
• The stock has received mixed analyst ratings, with an average target price of $165.05 and indications of a cautious outlook reflected in recent performance metrics against previous years.

Janney Montgomery Scott LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,205,961 shares of the oil and gas company's stock after selling 4,737 shares during the period. Janney Montgomery Scott LLC owned 0.07% of Chevron worth $172,682,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CCG Wealth Management LLC raised its holdings in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC raised its holdings in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after buying an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its holdings in Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after buying an additional 1,755 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective on the stock. Morgan Stanley initiated coverage on Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective on the stock. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research note 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $165.05.

Chevron Trading Down 2.5%

CVX stock opened at $156.13 on Tuesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $269.79 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.00 and a beta of 0.90. The business's 50 day moving average is $156.17 and its 200-day moving average is $149.09. 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 (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company posted $2.55 EPS. The company's revenue was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was 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 in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

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.

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