Chevron Co. (NYSE:CVX) Shares Sold by Capital Advisors Wealth Management LLC

Capital Advisors Wealth Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,146 shares of the oil and gas company’s stock after selling 355 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Chevron were worth $2,378,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Foster Victor Wealth Advisors LLC raised its stake in Chevron by 12.0% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 60,740 shares of the oil and gas company’s stock valued at $9,090,000 after purchasing an additional 6,486 shares during the last quarter. PFG Advisors raised its stake in Chevron by 5.6% in the 3rd quarter. PFG Advisors now owns 39,340 shares of the oil and gas company’s stock valued at $5,794,000 after purchasing an additional 2,084 shares during the last quarter. Regatta Capital Group LLC raised its stake in Chevron by 9.9% in the 3rd quarter. Regatta Capital Group LLC now owns 5,497 shares of the oil and gas company’s stock valued at $810,000 after purchasing an additional 493 shares during the last quarter. Magnus Financial Group LLC raised its stake in Chevron by 49.7% in the 3rd quarter. Magnus Financial Group LLC now owns 21,963 shares of the oil and gas company’s stock valued at $3,235,000 after purchasing an additional 7,288 shares during the last quarter. Finally, Ullmann Wealth Partners Group LLC raised its stake in Chevron by 151.1% in the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 3,834 shares of the oil and gas company’s stock valued at $565,000 after purchasing an additional 2,307 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $147.73 on Wednesday. The business has a 50-day moving average of $145.70 and a 200 day moving average of $153.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $272.26 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.81.

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.