Journey Advisory Group LLC Sells 7,032 Shares of Chevron Corporation $CVX

Journey Advisory Group LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 22.4% during the 1st quarter, Holdings Channel reports. The fund owned 24,351 shares of the oil and gas company’s stock after selling 7,032 shares during the period. Journey Advisory Group LLC’s holdings in Chevron were worth $5,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dakota Wealth Management grew its holdings in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Clear Trail Advisors LLC bought a new stake in Chevron in the fourth quarter worth about $10,167,000. Curtis Advisory Group LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $1,381,000. Indivisible Partners purchased a new position in shares of Chevron during the fourth quarter valued at approximately $1,923,000. Finally, Cypress Wealth Services LLC grew its stake in shares of Chevron by 64.0% during the fourth quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 6,475 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as being “poised to beat earnings estimates again,” with articles pointing to its strong history of earnings surprises and favorable setup for the next quarterly report. Why Chevron (CVX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Reuters-reported news that Chevron is offering its chemical technology to rival shale drillers could support future royalty, service, and technology-related revenue while reinforcing the company’s innovation story. Chevron (CVX) Offers Rival Drillers Chemical Technology to Increase Shale Oil Output, Reuters Reports
• Positive Sentiment: Several analyst and screening pieces continued to frame Chevron as an attractive dividend/blue-chip energy name, with BMO Capital reiterating a Buy rating and other commentary calling it a strong dividend aristocrat pick. BMO Capital Sticks to Its Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron is also being discussed as a beneficiary of stronger crude prices, which can improve upstream margins and earnings power if oil holds up. Shell, BP, and other energy stocks jump as crude oil prices rebound

Chevron Price Performance

CVX opened at $181.55 on Thursday. The company has a market capitalization of $361.58 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 0.64 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The business’s fifty day simple moving average is $181.39 and its 200-day simple moving average is $182.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the company posted $2.18 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 14.75 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 3.9%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a report on Friday, April 17th. Morgan Stanley cut their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Jefferies Financial Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.83.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Chevron Profile

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.