Aberdeen Wealth Management LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Aberdeen Wealth Management LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 6.7% in the 3rd quarter, Holdings Channel reports. The fund owned 4,239 shares of the oil and gas company’s stock after selling 303 shares during the period. Aberdeen Wealth Management LLC’s holdings in Chevron were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter valued at approximately $29,000. Anfield Capital Management LLC grew its position in Chevron by 118.0% during the second 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. Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Chevron in the third quarter worth about $47,000. Finally, Krane Funds Advisors LLC acquired a new position in shares of Chevron in the third quarter worth about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. 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 research note on Friday, September 27th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Finally, Barclays boosted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Insiders Place Their Bets

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 value of $26,357,398.00. Following the completion of the sale, the chief executive officer now 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $160.78 on Tuesday. The company has a market cap of $288.94 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.63 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 company’s 50-day moving average price is $149.80 and its 200-day moving average price is $152.57. 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 released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $3.05 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date is Monday, November 18th. Chevron’s 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.