Segment Wealth Management LLC Sells 113 Shares of Chevron Co. (NYSE:CVX)

Segment Wealth Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,459 shares of the oil and gas company’s stock after selling 113 shares during the period. Segment Wealth Management LLC’s holdings in Chevron were worth $4,191,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CVX. Private Wealth Management Group LLC boosted its stake in Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC raised its position in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC lifted its stake in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Mayfair Advisory Group LLC boosted its position in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares during the period. Finally, Penbrook Management LLC grew its stake in shares of Chevron by 3.9% in the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $150.92 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 company’s 50 day simple moving average is $146.32 and its 200 day simple moving average is $153.47. The stock has a market capitalization of $278.14 billion, a PE ratio of 13.88, a P/E/G ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. UBS Group raised their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.