Assetmark Inc. Sells 4,440 Shares of Chevron Co. (NYSE:CVX)

Assetmark Inc. lowered its stake in Chevron Co. (NYSE:CVX) by 3.1% in the third quarter, Holdings Channel reports. The fund owned 139,904 shares of the oil and gas company’s stock after selling 4,440 shares during the quarter. Assetmark Inc.’s holdings in Chevron were worth $20,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Verdence Capital Advisors LLC increased its position in Chevron by 3.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 24,972 shares of the oil and gas company’s stock valued at $3,678,000 after acquiring an additional 759 shares during the period. Carson Advisory Inc. boosted its stake in shares of Chevron by 7.5% in the 3rd quarter. Carson Advisory Inc. now owns 7,728 shares of the oil and gas company’s stock valued at $1,138,000 after purchasing an additional 539 shares during the last quarter. Rovin Capital UT ADV raised its position in shares of Chevron by 17.1% in the 3rd quarter. Rovin Capital UT ADV now owns 2,162 shares of the oil and gas company’s stock worth $318,000 after acquiring an additional 315 shares in the last quarter. Crumly & Associates Inc. boosted its position in shares of Chevron by 2.8% during the 3rd quarter. Crumly & Associates Inc. now owns 3,704 shares of the oil and gas company’s stock valued at $545,000 after purchasing an additional 102 shares in the last quarter. Finally, United Bank grew its holdings in Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CVX shares. Truist Financial lifted their price target 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 reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada raised 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. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Up 0.1 %

Shares of CVX opened at $156.93 on Friday. The business’s 50-day moving average price is $147.80 and its 200-day moving average price is $152.89. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $287.01 billion, a PE ratio of 17.25, a P/E/G ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results 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 business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.05 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

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

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.