Birchcreek Wealth Management LLC Sells 100 Shares of Chevron Co. (NYSE:CVX)

Birchcreek Wealth Management LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 2.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,356 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Chevron were worth $494,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Capital World Investors increased its stake 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 period. Legal & General Group Plc increased its stake in 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 purchasing an additional 629,644 shares during the period. Capital International Investors boosted its holdings in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial upped their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Down 0.1 %

CVX traded down $0.11 during trading on Friday, reaching $161.69. 858,468 shares of the stock were exchanged, compared to its average volume of 7,641,052. The stock has a market cap of $290.57 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock’s 50 day moving average price is $148.93 and its two-hundred day moving average price is $152.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.05 earnings per share. Equities analysts expect that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

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.