Nations Financial Group Inc. IA ADV Acquires 25,710 Shares of Chevron Corporation $CVX

Nations Financial Group Inc. IA ADV increased its holdings in Chevron Corporation (NYSE:CVX) by 60.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 68,592 shares of the oil and gas company’s stock after buying an additional 25,710 shares during the quarter. Chevron comprises approximately 0.7% of Nations Financial Group Inc. IA ADV’s portfolio, making the stock its 23rd largest holding. Nations Financial Group Inc. IA ADV’s holdings in Chevron were worth $14,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Core Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Karpus Management Inc. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Quattro Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $27,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock worth $118,022,760 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Mizuho lifted their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research note on Friday, April 17th. Scotiabank upped their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, UBS Group increased their target price on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Stock Down 0.1%

Shares of CVX opened at $173.51 on Friday. The company has a market capitalization of $345.56 billion, a P/E ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. The business’s 50 day simple moving average is $186.63 and its 200-day simple moving average is $179.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the firm posted $2.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.