Chevron Co. (NYSE:CVX) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 33.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,717 shares of the oil and gas company’s stock after selling 35,333 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Chevron were worth $10,905,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after acquiring an additional 82 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 4,047 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Chevron by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 203,559 shares of the oil and gas company’s stock valued at $30,363,000 after acquiring an additional 2,936 shares during the period. Finally, TrinityPoint Wealth LLC increased its stake in shares of Chevron by 6.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after purchasing an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.1 %

CVX stock opened at $142.11 on Tuesday. The stock has a market cap of $259.91 billion, a P/E ratio of 13.07, a PEG ratio of 2.41 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 Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The company’s 50 day moving average is $148.88 and its two-hundred day moving average is $154.68.

Chevron (NYSE:CVX) last announced its earnings results 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 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 last year, the business posted $3.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Research analysts expect that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Truist Financial lowered their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Royal Bank of Canada lowered their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $182.88.

Chevron 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.