Cornerstone Wealth Group LLC Has $6.92 Million Position in Chevron Co. (NYSE:CVX)

Cornerstone Wealth Group LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,981 shares of the oil and gas company’s stock after selling 1,759 shares during the period. Cornerstone Wealth Group LLC’s holdings in Chevron were worth $6,919,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the period. Marietta Wealth Management LLC boosted its stake in shares of Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares during the period. Leo Wealth LLC lifted its stake in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Finally, Hosking Partners LLP acquired a new position in Chevron during the first quarter worth $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CVX shares. Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. UBS Group boosted their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Down 0.3 %

NYSE CVX opened at $148.06 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a 50-day simple moving average of $146.79 and a 200 day simple moving average of $153.04. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $270.79 billion, a PE ratio of 14.66, a PEG ratio of 3.29 and a beta of 1.09.

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 company had revenue of $51.18 billion during 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 in the prior year, the company posted $3.08 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 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.