Prime Capital Investment Advisors LLC Sells 18,767 Shares of Chevron Co. (NYSE:CVX)

Prime Capital Investment Advisors LLC lessened its stake in Chevron Co. (NYSE:CVX) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,566 shares of the oil and gas company’s stock after selling 18,767 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Chevron were worth $23,551,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CVX. Gilbert & Cook Inc. boosted its holdings in Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after acquiring an additional 369 shares during the last quarter. Aveo Capital Partners LLC lifted its position in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after purchasing an additional 82 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 4,047 shares during the last quarter. Fiera Capital Corp grew its position in shares of Chevron by 46.2% during the 4th quarter. Fiera Capital Corp now owns 11,396 shares of the oil and gas company’s stock worth $1,700,000 after buying an additional 3,600 shares during the period. Finally, Trillium Asset Management LLC raised its stake in shares of Chevron by 20.5% during the fourth quarter. Trillium Asset Management LLC now owns 4,452 shares of the oil and gas company’s stock worth $664,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $140.61 on Friday. The company has a fifty day moving average price of $149.12 and a 200 day moving average price of $154.73. The firm has a market cap of $257.16 billion, a PE ratio of 12.94, a PEG ratio of 2.37 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that Chevron Co. will post 11.63 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Barclays decreased their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

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.