Chevron Co. (NYSE:CVX) Shares Sold by Allied Investment Advisors LLC

Posted by Defense World Staff on Jul 1st, 2023

Allied Investment Advisors LLC cut its position in Chevron Co. (NYSE:CVX – Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,563 shares of the oil and gas company’s stock after selling 944 shares during the quarter. Chevron makes up 3.4% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Allied Investment Advisors LLC’s holdings in Chevron were worth $10,860,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P raised its stake in Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after acquiring an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC raised its stake in Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 1,476 shares during the last quarter. GQG Partners LLC raised its stake in Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC raised its stake in Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after acquiring an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after acquiring an additional 250,840 shares during the last quarter. 69.65% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX opened at $157.35 on Friday. The business’s fifty day moving average price is $157.44 and its two-hundred day moving average price is $165.12. The stock has a market cap of $298.12 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. Chevron Co. has a one year low of $132.54 and a one year high of $189.68.

Chevron (NYSE:CVX – Free Report) last announced its earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.14. The firm had revenue of $50.79 billion for the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. Chevron’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.36 EPS. On average, analysts forecast that Chevron Co. will post 13.83 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is 32.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CVX shares. Truist Financial reduced their price objective on Chevron from $193.00 to $190.00 in a research note on Monday, May 1st. Raymond James cut their target price on Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research note on Friday, April 14th. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 target price for the company in a research note on Tuesday, April 4th. Piper Sandler cut their target price on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Finally, StockNews.com initiated coverage on Chevron in a research note on Thursday, May 18th. They set a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.68.

Chevron Profile

(Free Report)

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.

Chevron Co. (NYSE:CVX) Shares Sold by Allied Investment Advisors LLC

Chevron Price Performance

Chevron Announces Dividend

Wall Street Analysts Forecast Growth

Chevron Profile

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