Chevron Co. (NYSE:CVX) Shares Sold by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 10.5% during the second quarter, Holdings Channel reports. The fund owned 5,154 shares of the oil and gas company’s stock after selling 603 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Chevron were worth $806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oak Harvest Investment Services raised its holdings in Chevron by 0.5% in the second quarter. Oak Harvest Investment Services now owns 55,711 shares of the oil and gas company’s stock valued at $8,714,000 after acquiring an additional 261 shares in the last quarter. RTD Financial Advisors Inc. boosted its position in Chevron by 47.2% during the 2nd quarter. RTD Financial Advisors Inc. now owns 3,160 shares of the oil and gas company’s stock worth $494,000 after acquiring an additional 1,013 shares during the period. Reliant Investment Management LLC acquired a new position in Chevron in the 2nd quarter valued at approximately $245,000. Commerzbank Aktiengesellschaft FI grew its stake in Chevron by 8.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 84,205 shares of the oil and gas company’s stock valued at $13,171,000 after purchasing an additional 6,462 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Chevron by 21.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 533 shares of the oil and gas company’s stock worth $83,000 after buying an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

Shares of Chevron stock traded up $0.66 during midday trading on Wednesday, reaching $145.35. 5,982,982 shares of the company’s stock traded hands, compared to its average volume of 7,875,729. The stock has a 50 day moving average of $153.39 and a 200-day moving average of $155.96. The company has a market cap of $265.83 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last announced its 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the business posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.49%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Mizuho raised their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price 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.