BBR Partners LLC Has $2.81 Million Holdings in Chevron Co. (NYSE:CVX)

BBR Partners LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,054 shares of the oil and gas company’s stock after selling 268 shares during the period. BBR Partners LLC’s holdings in Chevron were worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the third quarter worth about $31,000. Anfield Capital Management LLC increased its holdings in 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 buying an additional 118 shares during the period. Finally, Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.3 %

Shares of Chevron stock opened at $162.11 on Thursday. The company has a market capitalization of $291.33 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 3.54 and a beta of 1.09. The stock has a fifty day simple moving average of $152.69 and a 200 day simple moving average of $152.56. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the firm earned $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Truist Financial upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research report on Tuesday. Finally, Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.56.

About Chevron

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.