GPS Wealth Strategies Group LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

GPS Wealth Strategies Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 3.1% in the second quarter, Holdings Channel.com reports. The firm owned 6,158 shares of the oil and gas company’s stock after purchasing an additional 188 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Chevron were worth $963,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in shares of Chevron by 4.9% in the fourth quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after buying an additional 1,005 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Chevron in the 4th quarter worth approximately $83,000. Costello Asset Management INC increased its stake in Chevron by 4.5% in the 4th quarter. Costello Asset Management INC now owns 5,890 shares of the oil and gas company’s stock worth $878,000 after purchasing an additional 251 shares during the period. Citizens National Bank Trust Department lifted its position in Chevron by 1.3% in the fourth quarter. Citizens National Bank Trust Department now owns 51,268 shares of the oil and gas company’s stock valued at $7,647,000 after purchasing an additional 649 shares during the last quarter. Finally, RPG Investment Advisory LLC boosted its stake in shares of Chevron by 2.7% during the fourth quarter. RPG Investment Advisory LLC now owns 110,737 shares of the oil and gas company’s stock valued at $16,518,000 after purchasing an additional 2,924 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CVX. Barclays lowered their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Piper Sandler boosted their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.3 %

CVX stock traded up $0.48 during midday trading on Wednesday, hitting $144.63. The stock had a trading volume of 5,871,486 shares, compared to its average volume of 7,899,141. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market cap of $266.55 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The business has a 50-day moving average of $154.39 and a two-hundred day moving average of $156.08. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.51%. Chevron’s dividend payout ratio is currently 59.98%.

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.