Prime Capital Investment Advisors LLC Sells 18,767 Shares of Chevron Co. (NYSE:CVX)

Prime Capital Investment Advisors LLC lowered its stake in Chevron Co. (NYSE:CVX) by 11.1% during the second quarter, Holdings Channel.com reports. The fund owned 150,566 shares of the oil and gas company’s stock after selling 18,767 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Chevron were worth $23,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Chevron during the 4th quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc raised its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Capital World Investors lifted its stake in Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Chevron by 13.0% in the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after acquiring an additional 1,797,171 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Chevron by 68,604.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock worth $180,158,000 after purchasing an additional 1,206,059 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

NYSE CVX opened at $140.61 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $257.16 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.37 and a beta of 1.09. The company has a 50 day moving average of $149.12 and a 200-day moving average of $154.73. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $3.08 earnings per share. On average, equities research analysts expect that Chevron Co. will post 11.63 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays dropped their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron 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.