GM Advisory Group LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

GM Advisory Group LLC lowered its position in Chevron Co. (NYSE:CVX) by 7.7% during the 3rd quarter, Holdings Channel reports. The firm owned 19,344 shares of the oil and gas company’s stock after selling 1,617 shares during the quarter. GM Advisory Group LLC’s holdings in Chevron were worth $2,849,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rational Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter valued at approximately $30,000. Anfield Capital Management LLC raised its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings 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 worth $39,000 after buying an additional 100 shares during the period. Finally, Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter valued at $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.2 %

Chevron stock opened at $161.58 on Friday. The business’s 50-day simple moving average is $151.14 and its two-hundred day simple moving average is $152.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $290.37 billion, a PE ratio of 17.76, a PEG ratio of 3.59 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

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

Chevron Announces Dividend

The firm 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 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVX shares. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group increased their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their price objective 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. Finally, Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

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.