LJI Wealth Management LLC Lowers Stake in Chevron Co. (NYSE:CVX)

LJI Wealth Management LLC lessened its stake in Chevron Co. (NYSE:CVX) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,295 shares of the oil and gas company’s stock after selling 223 shares during the period. LJI Wealth Management LLC’s holdings in Chevron were worth $633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. RIA Advisory Group LLC purchased a new position in shares of Chevron during the third quarter valued at $313,000. Squire Investment Management Company LLC bought a new position in Chevron during the 3rd quarter worth about $208,000. Miramar Capital LLC increased its position in Chevron by 30.5% during the 3rd quarter. Miramar Capital LLC now owns 115,489 shares of the oil and gas company’s stock valued at $17,008,000 after purchasing an additional 27,008 shares during the period. Vawter Financial Ltd. raised its holdings in shares of Chevron by 12.4% in the 3rd quarter. Vawter Financial Ltd. now owns 1,817 shares of the oil and gas company’s stock valued at $268,000 after purchasing an additional 200 shares in the last quarter. Finally, Northcape Wealth Management LLC lifted its position in shares of Chevron by 3.1% in the 3rd quarter. Northcape Wealth Management LLC now owns 2,322 shares of the oil and gas company’s stock worth $342,000 after purchasing an additional 69 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Truist Financial upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Scotiabank decreased their price target 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, October 10th. Finally, Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Performance

Shares of Chevron stock traded down $0.38 during trading on Friday, hitting $161.42. 9,022,753 shares of the company’s stock were exchanged, compared to its average volume of 7,677,757. The stock has a market capitalization of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.57 and a beta of 1.09. The business has a 50-day simple moving average of $149.39 and a 200-day simple moving average of $152.68. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. On average, research analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

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.