Chevron Corporation $CVX Shares Sold by Edgar Lomax Co. VA

Edgar Lomax Co. VA lowered its stake in Chevron Corporation (NYSE:CVX) by 18.5% during the first quarter, HoldingsChannel reports. The firm owned 280,037 shares of the oil and gas company’s stock after selling 63,535 shares during the quarter. Chevron comprises approximately 2.9% of Edgar Lomax Co. VA’s portfolio, making the stock its 11th biggest holding. Edgar Lomax Co. VA’s holdings in Chevron were worth $46,847,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Korea Investment CORP increased its holdings in shares of Chevron by 1.9% in the first quarter. Korea Investment CORP now owns 1,258,455 shares of the oil and gas company’s stock valued at $210,527,000 after purchasing an additional 23,612 shares during the period. Alpha Family Trust grew its holdings in Chevron by 174.4% during the first quarter. Alpha Family Trust now owns 3,800 shares of the oil and gas company’s stock worth $636,000 after acquiring an additional 2,415 shares during the period. Sand Hill Global Advisors LLC grew its holdings in Chevron by 1.9% during the first quarter. Sand Hill Global Advisors LLC now owns 62,090 shares of the oil and gas company’s stock worth $10,387,000 after acquiring an additional 1,185 shares during the period. Aptus Capital Advisors LLC grew its holdings in Chevron by 296.7% during the first quarter. Aptus Capital Advisors LLC now owns 303,704 shares of the oil and gas company’s stock worth $50,807,000 after acquiring an additional 227,148 shares during the period. Finally, Allen Wealth Management LLC grew its holdings in Chevron by 0.6% during the first quarter. Allen Wealth Management LLC now owns 27,825 shares of the oil and gas company’s stock worth $4,655,000 after acquiring an additional 176 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.9%

CVX opened at $156.52 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $270.46 billion, a P/E ratio of 20.14, a PEG ratio of 2.35 and a beta of 0.87. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business’s fifty day simple moving average is $150.13 and its 200 day simple moving average is $148.49.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Piper Sandler reissued an “overweight” rating on shares of Chevron in a report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $164.11.

About Chevron

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.