Commonwealth Financial Services LLC Sells 126 Shares of Chevron Co. (NYSE:CVX)

Commonwealth Financial Services LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,233 shares of the oil and gas company’s stock after selling 126 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Chevron were worth $484,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Impact Partnership Wealth LLC grew its stake in Chevron by 10.1% in the third quarter. Impact Partnership Wealth LLC now owns 7,001 shares of the oil and gas company’s stock valued at $1,031,000 after acquiring an additional 642 shares during the period. Grimes & Company Inc. grew its stake in Chevron by 3.9% in the third quarter. Grimes & Company Inc. now owns 59,593 shares of the oil and gas company’s stock valued at $8,776,000 after acquiring an additional 2,260 shares during the period. PSI Advisors LLC grew its stake in Chevron by 1.9% in the third quarter. PSI Advisors LLC now owns 12,946 shares of the oil and gas company’s stock valued at $1,907,000 after acquiring an additional 243 shares during the period. Asset Planning Services Inc. LA ADV grew its stake in Chevron by 1.8% in the third quarter. Asset Planning Services Inc. LA ADV now owns 43,765 shares of the oil and gas company’s stock valued at $6,445,000 after acquiring an additional 775 shares during the period. Finally, Boyd Watterson Asset Management LLC OH grew its stake in Chevron by 1.5% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 18,973 shares of the oil and gas company’s stock valued at $2,794,000 after acquiring an additional 281 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $150.46 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s fifty day moving average price is $146.44 and its two-hundred day moving average price is $153.45. The firm has a market cap of $275.18 billion, a PE ratio of 14.90, a PEG ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the company earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio is presently 64.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, UBS Group lifted their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

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.