Fidelis Capital Partners LLC Reduces Holdings in Chevron Co. (NYSE:CVX)

by · The Markets Daily

Fidelis Capital Partners LLC trimmed its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,527 shares of the oil and gas company’s stock after selling 858 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Chevron were worth $4,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. LVW Advisors LLC boosted its stake in shares of Chevron by 5.0% during the first quarter. LVW Advisors LLC now owns 10,425 shares of the oil and gas company’s stock valued at $1,644,000 after purchasing an additional 497 shares during the period. Oak Asset Management LLC boosted its stake in shares of Chevron by 0.6% during the first quarter. Oak Asset Management LLC now owns 78,749 shares of the oil and gas company’s stock valued at $12,422,000 after purchasing an additional 465 shares during the period. Chapin Davis Inc. boosted its stake in shares of Chevron by 8.5% during the first quarter. Chapin Davis Inc. now owns 29,049 shares of the oil and gas company’s stock valued at $4,582,000 after purchasing an additional 2,270 shares during the period. Mirador Capital Partners LP boosted its stake in shares of Chevron by 6.5% during the first quarter. Mirador Capital Partners LP now owns 104,428 shares of the oil and gas company’s stock valued at $16,473,000 after purchasing an additional 6,408 shares during the period. Finally, Aviance Capital Partners LLC boosted its stake in shares of Chevron by 151.0% during the first quarter. Aviance Capital Partners LLC now owns 12,965 shares of the oil and gas company’s stock valued at $2,045,000 after purchasing an additional 7,800 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Barclays decreased their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

View Our Latest Analysis on CVX

Chevron Price Performance

Shares of CVX stock opened at $148.55 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $271.69 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 3.29 and a beta of 1.09. 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 stock’s 50-day simple moving average is $146.74 and its 200-day simple moving average is $153.08.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. Chevron’s payout ratio is 64.55%.

Chevron 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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