Chevron Co. (NYSE:CVX) Shares Sold by Source Financial Advisors LLC

Source Financial Advisors LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 7.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,991 shares of the oil and gas company’s stock after selling 167 shares during the period. Source Financial Advisors LLC’s holdings in Chevron were worth $293,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CVX. Ameriprise Financial Inc. boosted its stake in shares of Chevron by 3.0% during 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 acquiring an additional 501,969 shares in the last quarter. Capital World Investors grew its holdings in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc increased its position in shares of 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 valued at $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors raised its stake in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chevron by 1.0% in the 2nd 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 buying an additional 126,889 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. UBS Group raised their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company cut 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. Finally, Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

Chevron stock opened at $156.95 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $287.05 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.53 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a 50 day moving average price of $147.80 and a 200 day moving average price of $152.89.

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

Chevron Announces Dividend

The company 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. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 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.