Chevron Co. (NYSE:CVX) Stock Holdings Cut by ASB Consultores LLC

ASB Consultores LLC lessened its position in Chevron Co. (NYSE:CVX) by 5.2% during the third quarter, Holdings Channel reports. The institutional investor owned 3,506 shares of the oil and gas company’s stock after selling 191 shares during the quarter. ASB Consultores LLC’s holdings in Chevron were worth $516,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. James J. Burns & Company LLC increased its stake in Chevron by 3.9% in the 3rd quarter. James J. Burns & Company LLC now owns 2,074 shares of the oil and gas company’s stock worth $306,000 after purchasing an additional 77 shares in the last quarter. Cary Street Partners Asset Management LLC raised its position in Chevron by 2.6% during the third quarter. Cary Street Partners Asset Management LLC now owns 3,421 shares of the oil and gas company’s stock valued at $504,000 after buying an additional 87 shares during the period. FSM Wealth Advisors LLC lifted its stake in Chevron by 1.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 7,309 shares of the oil and gas company’s stock worth $1,076,000 after acquiring an additional 108 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in Chevron by 2.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,583 shares of the oil and gas company’s stock worth $3,326,000 after acquiring an additional 631 shares during the period. Finally, Solitude Financial Services grew its stake in Chevron by 42.0% during the 3rd quarter. Solitude Financial Services now owns 20,165 shares of the oil and gas company’s stock valued at $2,970,000 after acquiring an additional 5,968 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVX shares. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Truist Financial boosted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Price Performance

NYSE:CVX opened at $153.97 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market cap of $281.60 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company’s 50-day moving average price is $147.07 and its two-hundred day moving average price is $152.91.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.7 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) 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.