Empirical Asset Management LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Empirical Asset Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,776 shares of the oil and gas company’s stock after selling 423 shares during the quarter. Empirical Asset Management LLC’s holdings in Chevron were worth $3,943,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Stablepoint Partners LLC increased its holdings in Chevron by 3.4% during the third quarter. Stablepoint Partners LLC now owns 39,207 shares of the oil and gas company’s stock valued at $5,774,000 after buying an additional 1,288 shares during the period. Sapient Capital LLC increased its holdings in Chevron by 0.6% during the third quarter. Sapient Capital LLC now owns 300,154 shares of the oil and gas company’s stock valued at $44,204,000 after buying an additional 1,689 shares during the period. ORG Wealth Partners LLC purchased a new position in Chevron in the third quarter worth $182,000. Accelerate Investment Advisors LLC purchased a new position in Chevron in the third quarter worth $252,000. Finally, Paladin Wealth LLC purchased a new position in Chevron in the third quarter worth $950,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $176.81.

Chevron Trading Down 0.4 %

NYSE:CVX traded down $0.68 on Monday, hitting $150.74. The stock had a trading volume of 427,175 shares, compared to its average volume of 7,728,207. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $277.81 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 2.72 and a beta of 1.09. The company has a fifty day moving average price of $145.46 and a two-hundred day moving average price of $153.93. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued 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 yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.