Chevron Co. (NYSE:CVX) Shares Sold by Access Financial Services Inc.

Access Financial Services Inc. cut its position in Chevron Co. (NYSE:CVX) by 16.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,726 shares of the oil and gas company’s stock after selling 1,872 shares during the period. Access Financial Services Inc.’s holdings in Chevron were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CVX. Independence Bank of Kentucky boosted its holdings in shares of Chevron by 8.5% during the 2nd quarter. Independence Bank of Kentucky now owns 35,448 shares of the oil and gas company’s stock worth $5,545,000 after purchasing an additional 2,786 shares during the last quarter. Optas LLC boosted its stake in Chevron by 19.0% during the second quarter. Optas LLC now owns 1,672 shares of the oil and gas company’s stock worth $262,000 after buying an additional 267 shares during the last quarter. Clear Creek Financial Management LLC grew its holdings in Chevron by 4.1% in the 2nd quarter. Clear Creek Financial Management LLC now owns 16,882 shares of the oil and gas company’s stock valued at $2,641,000 after buying an additional 670 shares in the last quarter. SNS Financial Group LLC increased its stake in shares of Chevron by 4.7% in the 2nd quarter. SNS Financial Group LLC now owns 1,661 shares of the oil and gas company’s stock worth $260,000 after acquiring an additional 75 shares during the last quarter. Finally, Community Financial Services Group LLC raised its holdings in shares of Chevron by 7.7% during the 2nd quarter. Community Financial Services Group LLC now owns 13,847 shares of the oil and gas company’s stock worth $2,166,000 after acquiring an additional 995 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 1.3 %

NYSE:CVX traded up $1.89 during midday trading on Friday, reaching $147.62. The company had a trading volume of 4,824,078 shares, compared to its average volume of 7,814,477. The stock’s fifty day simple moving average is $152.97 and its 200-day simple moving average is $155.81. 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 12-month low of $139.62 and a 12-month high of $171.70. The firm has a market capitalization of $272.06 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.08 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CVX shares. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $183.82.

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.