IronBridge Private Wealth LLC Sells 942 Shares of Chevron Co. (NYSE:CVX)

IronBridge Private Wealth LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,610 shares of the oil and gas company’s stock after selling 942 shares during the period. Chevron accounts for 2.3% of IronBridge Private Wealth LLC’s portfolio, making the stock its 13th largest holding. IronBridge Private Wealth LLC’s holdings in Chevron were worth $6,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter valued at about $31,000. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $162.21 on Tuesday. The company has a market cap of $291.51 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.10. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a 50 day moving average of $153.36 and a 200-day moving average of $152.46. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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

Chevron Dividend Announcement

The company also recently announced 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 of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s payout ratio is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Scotiabank cut their price target 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.