Evernest Financial Advisors LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Evernest Financial Advisors LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,299 shares of the oil and gas company’s stock after selling 808 shares during the period. Evernest Financial Advisors LLC’s holdings in Chevron were worth $486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Anfield Capital Management LLC increased its holdings 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 worth $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory purchased a new position in Chevron in the third quarter valued at approximately $47,000. Krane Funds Advisors LLC purchased a new stake in Chevron in the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Chevron during the 1st quarter valued at $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial reduced their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Finally, Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Up 0.1 %

Shares of NYSE CVX opened at $150.84 on Tuesday. The stock has a market capitalization of $275.87 billion, a P/E ratio of 14.93, a PEG ratio of 2.73 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm’s 50 day simple moving average is $146.19 and its two-hundred day simple moving average is $153.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. Chevron’s dividend payout ratio (DPR) is currently 64.55%.

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.