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

AE Wealth Management LLC cut its stake in Chevron Co. (NYSE:CVX) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 331,620 shares of the oil and gas company’s stock after selling 21,777 shares during the quarter. AE Wealth Management LLC’s holdings in Chevron were worth $51,872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Hathaway Inc increased its position in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the last quarter. Capital World Investors increased its position in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Chevron by 68,604.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after acquiring an additional 1,206,059 shares during the period. Finally, Wulff Hansen & CO. boosted its holdings in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after acquiring an additional 1,168,137 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.7 %

CVX opened at $144.98 on Friday. The firm has a market cap of $267.19 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The business’s 50 day moving average is $148.26 and its two-hundred day moving average is $154.47. 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 released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company 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%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.08 EPS. On average, research analysts predict that Chevron Co. will post 11.48 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank decreased their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.41.

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.