Prostatis Group LLC Sells 168 Shares of Chevron Co. (NYSE:CVX)

Prostatis Group LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,734 shares of the oil and gas company’s stock after selling 168 shares during the period. Prostatis Group LLC’s holdings in Chevron were worth $1,256,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Morgan Stanley lifted its stake in shares of Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 76.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after acquiring an additional 10,257,980 shares during the period. Norges Bank acquired a new position in shares of Chevron in the fourth quarter valued at approximately $3,058,235,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Chevron by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock worth $2,421,958,000 after purchasing an additional 948,045 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $166.81 on Wednesday. The firm has a market cap of $311.48 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $160.07 and a 200-day moving average price of $160.05. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The company had revenue of $48.90 billion during the quarter, compared to the consensus estimate of $48 billion. During the same quarter last year, the firm posted $5.82 EPS. The company’s quarterly revenue was down 28.9% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 13.19 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a yield of 3.62%. Chevron’s dividend payout ratio (DPR) is presently 38.30%.

Insider Activity

In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares in the company, valued at approximately $987,444. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the sale, the vice president now owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. StockNews.com initiated coverage on shares of Chevron in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Citigroup cut their target price on Chevron from $180.00 to $170.00 in a research report on Tuesday, July 11th. UBS Group boosted their price target on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $166.00 to $187.00 in a research note on Monday, July 31st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.28.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.