Azzad Asset Management Inc. ADV Lowers Stock Position in Chevron Co. (NYSE:CVX)

Azzad Asset Management Inc. ADV reduced its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,533 shares of the oil and gas company’s stock after selling 169 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Chevron were worth $5,605,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Bare Financial Services Inc purchased a new position in Chevron in the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $156.75 on Thursday. The stock’s fifty day moving average is $158.99 and its two-hundred day moving average is $154.88. The company has a market capitalization of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last issued 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 return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the business earned $3.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Analyst Ratings Changes

Several analysts have recently issued reports on CVX shares. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. HSBC upped their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company boosted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,746 shares of company stock worth $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.