HCR Wealth Advisors Sells 222 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

HCR Wealth Advisors lessened its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,464 shares of the oil and gas company’s stock after selling 222 shares during the period. HCR Wealth Advisors’ holdings in Chevron were worth $3,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Anfield Capital Management LLC increased its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% in 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 in the last quarter. Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter worth about $40,000. Finally, Vima LLC bought a new stake in Chevron during the 4th quarter valued at approximately $44,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. UBS Group upped their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.59.

View Our Latest Report on Chevron

Chevron Stock Performance

NYSE CVX traded up $0.80 on Friday, reaching $151.42. 5,051,314 shares of the stock were exchanged, compared to its average volume of 7,765,251. The firm has a market capitalization of $276.94 billion, a PE ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company’s 50-day simple moving average is $145.46 and its two-hundred day simple moving average is $153.96. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Free Report) last released 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). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. Analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. Chevron’s dividend payout ratio (DPR) is 64.55%.

Chevron Company Profile

(Free Report)

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.

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