Kovack Advisors Inc. Sells 1,871 Shares of Chevron Corporation (NYSE:CVX)

Kovack Advisors Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,895 shares of the oil and gas company's stock after selling 1,871 shares during the quarter. Chevron makes up about 1.1% of Kovack Advisors Inc.'s portfolio, making the stock its 15th biggest holding. Kovack Advisors Inc.'s holdings in Chevron were worth $10,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. Navigoe LLC purchased a new position in Chevron in the fourth quarter worth approximately $33,000. Finally, IFS Advisors LLC grew its position in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Piper Sandler reissued an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $162.13.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.00 on Friday, hitting $154.84. 7,872,671 shares of the company were exchanged, compared to its average volume of 12,051,790. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market capitalization of $270.40 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.44 and a beta of 0.83. The company's 50 day moving average price is $145.12 and its two-hundred day moving average price is $148.82.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The company's revenue was down 2.3% compared to the same quarter last year. Research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.42%. Chevron's dividend payout ratio is presently 78.17%.

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.