Syntegra Private Wealth Group LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Syntegra Private Wealth Group LLC lessened its stake in Chevron Co. (NYSE:CVX) by 30.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,426 shares of the oil and gas company’s stock after selling 636 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in Chevron were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron during the 3rd quarter valued at approximately $47,000. Livelsberger Financial Advisory purchased a new position in Chevron during the 3rd quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron in the 1st quarter worth approximately $55,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.3 %

NYSE:CVX opened at $150.46 on Thursday. The stock has a fifty day simple moving average of $146.44 and a 200-day simple moving average of $153.45. 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 company has a market cap of $277.29 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $3.08 earnings per share. Analysts anticipate that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid 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 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

About Chevron

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.