JNBA Financial Advisors Cuts Holdings in Chevron Corporation $CVX

JNBA Financial Advisors decreased its holdings in Chevron Corporation (NYSE:CVX) by 3.9% in the second quarter, Holdings Channel reports. The fund owned 4,340 shares of the oil and gas company’s stock after selling 175 shares during the quarter. JNBA Financial Advisors’ holdings in Chevron were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Drucker Wealth 3.0 LLC lifted its holdings in shares of Chevron by 313.2% in the 2nd quarter. Drucker Wealth 3.0 LLC now owns 10,218 shares of the oil and gas company’s stock valued at $1,564,000 after acquiring an additional 7,745 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of Chevron by 5.7% in the 2nd quarter. Aberdeen Group plc now owns 906,183 shares of the oil and gas company’s stock valued at $129,756,000 after acquiring an additional 49,236 shares during the last quarter. Zullo Investment Group Inc. lifted its holdings in shares of Chevron by 2.7% in the 2nd quarter. Zullo Investment Group Inc. now owns 5,528 shares of the oil and gas company’s stock valued at $792,000 after acquiring an additional 143 shares during the last quarter. First Fiduciary Investment Counsel Inc. lifted its holdings in shares of Chevron by 15.2% in the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 1,898 shares of the oil and gas company’s stock valued at $272,000 after acquiring an additional 250 shares during the last quarter. Finally, Strong Tower Advisory Services lifted its holdings in shares of Chevron by 5.4% in the 2nd quarter. Strong Tower Advisory Services now owns 19,695 shares of the oil and gas company’s stock valued at $2,820,000 after acquiring an additional 1,002 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Melius Research initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday. Barclays decreased their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Mizuho decreased their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $165.40.

Chevron Stock Performance

Chevron stock opened at $149.11 on Friday. The company has a 50 day moving average price of $156.10 and a 200-day moving average price of $148.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $257.66 billion, a PE ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.