Acropolis Investment Management LLC Has $2.59 Million Stock Position in Chevron Co. (NYSE:CVX)

Acropolis Investment Management LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,560 shares of the oil and gas company’s stock after selling 1,381 shares during the quarter. Acropolis Investment Management LLC’s holdings in Chevron were worth $2,586,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVX. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $31,000. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% in 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 last quarter. Finally, Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the second 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 during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on CVX shares. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.56.

Chevron Price Performance

NYSE CVX opened at $161.98 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $291.09 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 3.58 and a beta of 1.09. The business’s fifty day moving average price is $153.36 and its 200-day moving average price is $152.61.

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 analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 10.53 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 is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.03%. Chevron’s payout ratio is presently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

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.