Advisory Services Network LLC Has $23.35 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Advisory Services Network LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,015 shares of the oil and gas company’s stock after purchasing an additional 952 shares during the quarter. Chevron makes up about 0.5% of Advisory Services Network LLC’s portfolio, making the stock its 24th largest holding. Advisory Services Network LLC’s holdings in Chevron were worth $23,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Pacifica Partners Inc. boosted its stake in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its holdings in Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the last quarter. Ellenbecker Investment Group raised its holdings in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the last quarter. Mayfair Advisory Group LLC raised its holdings in Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares during the last quarter. Finally, Penbrook Management LLC raised its holdings in Chevron by 3.9% during the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after buying an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.1 %

CVX stock traded down $0.22 during mid-day trading on Friday, hitting $155.04. 1,443,185 shares of the company were exchanged, compared to its average volume of 7,893,869. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $285.73 billion, a P/E ratio of 14.25, a PEG ratio of 2.35 and a beta of 1.10. The business has a fifty day simple moving average of $157.85 and a 200-day simple moving average of $155.03. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the firm posted $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

CVX has been the subject of several analyst reports. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. TD Cowen raised their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.89.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is currently owned by company insiders.

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; 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.