1834 Investment Advisors Co. Decreases Position in Chevron Co. (NYSE:CVX)

1834 Investment Advisors Co. decreased its holdings in Chevron Co. (NYSE:CVX) by 38.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,410 shares of the oil and gas company’s stock after selling 21,477 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Chevron were worth $5,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Security Advisor Inc. raised its position in shares of Chevron by 9.2% during the third quarter. Financial Security Advisor Inc. now owns 2,519 shares of the oil and gas company’s stock valued at $371,000 after buying an additional 212 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Chevron by 1.9% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 41,480 shares of the oil and gas company’s stock worth $6,109,000 after purchasing an additional 785 shares during the period. Long Run Wealth Advisors LLC increased its position in Chevron by 16.4% during the third quarter. Long Run Wealth Advisors LLC now owns 3,303 shares of the oil and gas company’s stock valued at $486,000 after acquiring an additional 465 shares during the last quarter. Balentine LLC lifted its stake in Chevron by 61.2% in the third quarter. Balentine LLC now owns 8,801 shares of the oil and gas company’s stock worth $1,296,000 after purchasing an additional 3,340 shares during the last quarter. Finally, HF Advisory Group LLC increased its stake in Chevron by 9.6% in the third quarter. HF Advisory Group LLC now owns 4,342 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $153.42 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a 50-day simple moving average of $147.20 and a 200-day simple moving average of $152.86. The company has a market capitalization of $280.59 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The company’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Finally, UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday. Four investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.