Financial Partners Group LLC Sells 4,381 Shares of Chevron Co. (NYSE:CVX)

Financial Partners Group LLC lowered its position in Chevron Co. (NYSE:CVX) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,559 shares of the oil and gas company’s stock after selling 4,381 shares during the quarter. Chevron makes up about 2.2% of Financial Partners Group LLC’s portfolio, making the stock its 18th biggest position. Financial Partners Group LLC’s holdings in Chevron were worth $4,336,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC raised its holdings in shares of Chevron by 247.8% in the second quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 5,700 shares in the last quarter. NewSquare Capital LLC increased its position in Chevron by 52.3% during the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 67 shares during the period. Worth Asset Management LLC bought a new stake in shares of Chevron in the 1st quarter valued at about $36,000. HBC Financial Services PLLC purchased a new stake in shares of Chevron in the 1st quarter worth approximately $37,000. Finally, Tobam bought a new position in shares of Chevron during the first quarter valued at approximately $38,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded up $2.69 during mid-day trading on Friday, reaching $144.46. The stock had a trading volume of 11,077,904 shares, compared to its average volume of 12,759,151. Chevron Co. has a 1-year low of $140.74 and a 1-year high of $187.81. The firm has a market cap of $272.70 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.73 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $158.68 and its 200-day moving average is $158.21.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.65). The business had revenue of $54.08 billion during the quarter, compared to analyst estimates of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. Chevron’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $5.56 EPS. On average, research analysts forecast that Chevron Co. will post 13.59 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 44.84%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVX shares. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $166.00 to $187.00 in a report on Monday, July 31st. HSBC upped their price objective on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Mizuho cut their target price on Chevron from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Tuesday, October 24th. Finally, Morgan Stanley lowered their price target on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.89.

Chevron Company 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; 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.