Nations Financial Group Inc. IA ADV Acquires 25,710 Shares of Chevron Corporation $CVX

Key Points

• Nations Financial Group Inc. IA ADV increased its Chevron stake by 60% in the first quarter, buying 25,710 more shares and bringing its total to 68,592 shares worth about $14.2 million.
• Several other institutional investors also added to Chevron, and overall 72.42% of the stock is owned by institutions, signaling broad professional investor interest.
• Analyst sentiment remains constructive: Chevron has a “Moderate Buy” consensus with an average target price of $205.70, while the company also recently paid a $1.78 quarterly dividend yielding 4.1% annually.

Nations Financial Group Inc. IA ADV boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 60.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,592 shares of the oil and gas company's stock after buying an additional 25,710 shares during the quarter. Chevron comprises 0.7% of Nations Financial Group Inc. IA ADV's portfolio, making the stock its 23rd biggest holding. Nations Financial Group Inc. IA ADV's holdings in Chevron were worth $14,192,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. United Bank lifted its holdings in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas grew its holdings in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 191 shares during the last quarter. Osterweis Capital Management Inc. grew its holdings in Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock valued at $195,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its position in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVX. Weiss Ratings cut shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Citigroup raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. TD Cowen lifted their target price on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Finally, Tudor Pickering raised shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.70.

Chevron Stock Performance

Shares of NYSE CVX opened at $173.51 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $186.63 and its two-hundred day moving average is $179.01. The company has a market cap of $345.56 billion, a P/E ratio of 30.07, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the company earned $2.18 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron's payout ratio is 123.40%.

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 615,200 shares of company stock valued at $118,022,760. Corporate insiders own 0.56% of the company's stock.

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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