Burt Wealth Advisors Sells 71 Shares of Chevron Co. (NYSE:CVX)

Burt Wealth Advisors lessened its position in shares of Chevron Co. (NYSE:CVX) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,835 shares of the oil and gas company’s stock after selling 71 shares during the period. Burt Wealth Advisors’ holdings in Chevron were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Ameriprise Financial Inc. increased its holdings in shares of Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors lifted its position in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Legal & General Group Plc boosted its stake in Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors grew its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CVX shares. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank lowered 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Performance

NYSE CVX traded up $0.18 during trading hours on Friday, hitting $156.95. The company’s stock had a trading volume of 1,522,742 shares, compared to its average volume of 7,642,312. 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 company has a market cap of $287.05 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09. The company’s 50 day simple moving average is $147.43 and its two-hundred day simple moving average is $152.90. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.