Nations Financial Group Inc. IA ADV Sells 5,011 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• Nations Financial Group Inc. IA ADV has reduced its stake in Chevron by 13.5%, selling 5,011 shares and owning 32,209 shares valued at $5,388,000.
• Chevron reported $1.77 EPS for the most recent quarter, surpassing estimates and generating revenue of $44.82 billion, although revenue is down 12.4% from the previous year.
• Chevron recently announced a quarterly dividend of $1.71 per share, reflecting an annualized amount of $6.84 and a dividend yield of 4.4%.

Nations Financial Group Inc. IA ADV decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,209 shares of the oil and gas company's stock after selling 5,011 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Chevron were worth $5,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its position in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the period. 10Elms LLP acquired a new stake in Chevron in the fourth quarter valued at $29,000. IFS Advisors LLC raised its position in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter valued at about $39,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $155.45 on Friday. The stock's 50 day moving average price is $149.80 and its 200-day moving average price is $148.59. The company has a market capitalization of $268.62 billion, a PE ratio of 20.01, a PEG ratio of 2.34 and a beta of 0.87. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for 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 for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 EPS. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given 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 of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. HSBC lowered Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Finally, Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $164.11.

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.

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