Chevron Co. (NYSE:CVX) Shares Sold by Mittelman Wealth Management

Mittelman Wealth Management lowered its holdings in Chevron Co. (NYSE:CVX) by 1.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,890 shares of the oil and gas company’s stock after selling 132 shares during the quarter. Mittelman Wealth Management’s holdings in Chevron were worth $1,234,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. boosted its holdings in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after buying an additional 369 shares in the last quarter. Aveo Capital Partners LLC lifted its position in shares of Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after acquiring an additional 82 shares during the period. Gryphon Financial Partners LLC lifted its position in shares of Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after acquiring an additional 4,047 shares during the period. TrinityPoint Wealth LLC boosted its stake in shares of Chevron by 6.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock worth $1,588,000 after acquiring an additional 680 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Chevron by 2.4% in the 4th quarter. Assetmark Inc. now owns 118,336 shares of the oil and gas company’s stock worth $17,651,000 after acquiring an additional 2,825 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.4 %

Shares of CVX opened at $143.96 on Thursday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The company’s fifty day moving average is $148.47 and its two-hundred day moving average is $154.54. The firm has a market cap of $263.29 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. 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 (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. Analysts forecast that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVX shares. UBS Group dropped their price target on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada lowered their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $182.41.

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.