Tradewinds LLC. Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Tradewinds LLC. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,406 shares of the oil and gas company’s stock after selling 132 shares during the quarter. Tradewinds LLC.’s holdings in Chevron were worth $1,827,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter worth approximately $30,000. Anfield Capital Management LLC raised its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.1 %

CVX stock opened at $161.30 on Thursday. The company has a market capitalization of $289.87 billion, a P/E ratio of 17.73, a PEG ratio of 3.59 and a beta of 1.09. The firm has a 50 day simple moving average of $150.70 and a 200-day simple moving average of $152.63. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.05 EPS. On average, equities research analysts predict that Chevron Co. will post 10.55 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. Stockholders of record on Monday, November 18th will be given 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 4.04%. Chevron’s payout ratio is 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. UBS Group lifted their price objective on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Finally, Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

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.