Waldron Private Wealth LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Waldron Private Wealth LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,928 shares of the oil and gas company’s stock after selling 412 shares during the quarter. Waldron Private Wealth LLC’s holdings in Chevron were worth $3,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Anfield Capital Management LLC lifted its position 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 valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its position 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 last quarter. Krane Funds Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $47,000. Livelsberger Financial Advisory purchased a new position in shares of Chevron in the 3rd quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Chevron in the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Scotiabank lowered their price target 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. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Finally, Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Up 0.0 %

Chevron stock opened at $150.92 on Wednesday. The business has a 50-day simple moving average of $146.32 and a two-hundred day simple moving average of $153.47. The company has a market cap of $278.14 billion, a P/E ratio of 13.88, a P/E/G ratio of 2.73 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 quarterly 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 firm 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.08 earnings per share. Analysts predict that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid 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 4.32%. 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.