Wealth Architects LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Wealth Architects LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,839 shares of the oil and gas company’s stock after selling 160 shares during the quarter. Wealth Architects LLC’s holdings in Chevron were worth $418,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at about $29,000. Anfield Capital Management LLC grew its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reduced 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. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Price Performance

CVX opened at $157.65 on Thursday. The stock’s 50-day moving average price is $147.43 and its 200 day moving average price is $152.90. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. 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) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 4.14%. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.