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

MinichMacGregor Wealth Management LLC lowered its position in Chevron Co. (NYSE:CVX) by 3.6% during the third quarter, HoldingsChannel reports. The firm owned 3,102 shares of the oil and gas company’s stock after selling 115 shares during the period. MinichMacGregor Wealth Management LLC’s holdings in Chevron were worth $457,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montz Harcus Wealth Management LLC boosted its stake in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC lifted its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the last quarter. Cyndeo Wealth Partners LLC increased its holdings in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after buying an additional 67 shares during the last quarter. S.A. Mason LLC raised its stake in Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of Chevron by 1.2% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock valued at $904,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday. Finally, Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” 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’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Up 0.1 %

NYSE CVX traded up $0.10 during trading hours on Tuesday, reaching $154.07. 919,563 shares of the company traded hands, compared to its average volume of 7,624,784. 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 12 month low of $135.37 and a 12 month high of $167.11. The company has a 50 day moving average of $147.07 and a two-hundred day moving average of $152.91. The stock has a market capitalization of $281.78 billion, a PE ratio of 16.92, a PEG ratio of 3.39 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.7 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 4.23%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.