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

Financial Advocates Investment Management cut its position in shares of Chevron Co. (NYSE:CVX) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. S.A. Mason LLC raised its holdings in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares during the period. Solidarity Wealth LLC raised its holdings in shares of Chevron by 4.1% during the 3rd quarter. Solidarity Wealth LLC now owns 4,017 shares of the oil and gas company’s stock valued at $592,000 after buying an additional 160 shares during the period. Oak Harvest Investment Services raised its holdings in shares of Chevron by 46.8% during the 3rd quarter. Oak Harvest Investment Services now owns 81,780 shares of the oil and gas company’s stock valued at $12,044,000 after buying an additional 26,069 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of Chevron by 34.9% during the 3rd quarter. JFS Wealth Advisors LLC now owns 17,458 shares of the oil and gas company’s stock valued at $2,571,000 after buying an additional 4,512 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in shares of Chevron by 12.5% during the 3rd quarter. Diversify Wealth Management LLC now owns 20,164 shares of the oil and gas company’s stock valued at $3,034,000 after buying an additional 2,241 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $148.06 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $270.79 billion, a P/E ratio of 14.66, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business has a 50 day simple moving average of $146.79 and a 200 day simple moving average of $153.04.

Chevron (NYSE:CVX) 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 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 company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. 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 is currently 64.55%.

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.