Chevron Co. (NYSE:CVX) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 0.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 34,754 shares of the oil and gas company’s stock after selling 69 shares during the quarter. Financial Advocates Investment Management’s holdings in Chevron were worth $5,118,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. S.A. Mason LLC raised its stake in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares in the last quarter. Solidarity Wealth LLC raised its stake in shares of Chevron by 4.1% in the 3rd quarter. Solidarity Wealth LLC now owns 4,017 shares of the oil and gas company’s stock worth $592,000 after buying an additional 160 shares in the last quarter. Oak Harvest Investment Services raised its stake in shares of Chevron by 46.8% in the 3rd quarter. Oak Harvest Investment Services now owns 81,780 shares of the oil and gas company’s stock worth $12,044,000 after buying an additional 26,069 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Chevron by 34.9% in the 3rd quarter. JFS Wealth Advisors LLC now owns 17,458 shares of the oil and gas company’s stock worth $2,571,000 after buying an additional 4,512 shares in the last quarter. Finally, Diversify Wealth Management LLC raised its stake in shares of Chevron by 12.5% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,164 shares of the oil and gas company’s stock worth $3,034,000 after buying an additional 2,241 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lowered 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. Finally, Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Performance

Shares of NYSE CVX opened at $148.06 on Thursday. The business’s 50-day moving average price is $146.79 and its two-hundred day moving average price is $153.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $270.79 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the firm earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is currently 64.55%.

About Chevron

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.