Apollon Wealth Management LLC Sells 1,500 Shares of Chevron Co. (NYSE:CVX)

Apollon Wealth Management LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 2.2% in the third quarter, Holdings Channel reports. The firm owned 66,442 shares of the oil and gas company’s stock after selling 1,500 shares during the quarter. Apollon Wealth Management LLC’s holdings in Chevron were worth $9,785,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC bought a new position in Chevron in the third quarter valued at $29,000. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $47,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Chevron in the 3rd quarter valued at about $47,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $156.55 on Tuesday. The company’s 50-day moving average price is $147.80 and its 200-day moving average price is $152.74. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $286.31 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 EPS. On average, equities research analysts forecast that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVX. Truist Financial lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.