Chevron Co. (NYSE:CVX) Shares Sold by GDS Wealth Management

GDS Wealth Management lowered its stake in shares of Chevron Co. (NYSE:CVX) by 24.1% in the third quarter, HoldingsChannel reports. The firm owned 1,900 shares of the oil and gas company’s stock after selling 603 shares during the quarter. GDS Wealth Management’s holdings in Chevron were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Paragon Capital Management LLC raised its position in shares of Chevron by 1.4% during the 3rd quarter. Paragon Capital Management LLC now owns 8,550 shares of the oil and gas company’s stock worth $1,259,000 after buying an additional 121 shares in the last quarter. Kennebec Savings Bank bought a new stake in Chevron during the third quarter worth approximately $551,000. Ashton Thomas Securities LLC raised its holdings in Chevron by 33.2% during the third quarter. Ashton Thomas Securities LLC now owns 3,001 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 748 shares in the last quarter. 1900 Wealth Management LLC lifted its position in Chevron by 2.4% in the third quarter. 1900 Wealth Management LLC now owns 7,787 shares of the oil and gas company’s stock worth $1,228,000 after purchasing an additional 179 shares during the period. Finally, Stockman Wealth Management Inc. increased its position in shares of Chevron by 9.7% during the 3rd quarter. Stockman Wealth Management Inc. now owns 65,457 shares of the oil and gas company’s stock valued at $9,640,000 after purchasing an additional 5,769 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.2 %

Shares of CVX stock opened at $156.55 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $147.80 and a 200-day moving average of $152.74. The company has a market capitalization of $286.31 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 3.51 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.05 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.