My Legacy Advisors LLC Sells 1,195 Shares of Chevron Co. (NYSE:CVX)

My Legacy Advisors LLC lessened its position in Chevron Co. (NYSE:CVX) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,791 shares of the oil and gas company’s stock after selling 1,195 shares during the period. My Legacy Advisors LLC’s holdings in Chevron were worth $1,000,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CVX. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. KCM Investment Advisors LLC raised its position in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Hosking Partners LLP acquired a new position in Chevron in the first quarter worth $4,924,000. Garner Asset Management Corp grew its holdings in shares of Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares during the last quarter. Finally, Motiv8 Investments LLC increased its stake in shares of Chevron by 1.8% in the second quarter. Motiv8 Investments LLC now owns 5,328 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

CVX stock opened at $150.92 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $278.14 billion, a PE ratio of 13.88, a P/E/G ratio of 2.73 and a beta of 1.09. The business’s 50-day moving average price is $146.32 and its two-hundred day moving average price is $153.47.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.32%. Chevron’s dividend payout ratio is currently 59.98%.

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.