Chevron Co. (NYSE:CVX) Shares Sold by Denver Wealth Management Inc.

Denver Wealth Management Inc. cut its stake in Chevron Co. (NYSE:CVX) by 9.9% in the third quarter, Holdings Channel reports. The firm owned 2,175 shares of the oil and gas company’s stock after selling 240 shares during the period. Denver Wealth Management Inc.’s holdings in Chevron were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. lifted its position in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the period. Global Assets Advisory LLC purchased a new stake in Chevron in the first quarter valued at $156,482,000. Capital International Investors grew its position in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Chevron by 38.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after buying an additional 681,394 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded up $0.37 during trading hours on Monday, reaching $151.12. 2,168,965 shares of the company’s stock were exchanged, compared to its average volume of 7,679,562. The business has a fifty day moving average of $146.07 and a two-hundred day moving average of $153.62. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $278.51 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.08 EPS. As a group, research analysts predict that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America assumed coverage on Chevron in a report on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.