Chevron Co. (NYSE:CVX) Stake Reduced by LGT Financial Advisors LLC

LGT Financial Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,951 shares of the oil and gas company’s stock after selling 191 shares during the quarter. Chevron accounts for about 2.2% of LGT Financial Advisors LLC’s portfolio, making the stock its 7th largest holding. LGT Financial Advisors LLC’s holdings in Chevron were worth $876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Consilium Wealth Advisory LLC raised its position in shares of Chevron by 4.6% in the third quarter. Consilium Wealth Advisory LLC now owns 5,349 shares of the oil and gas company’s stock worth $788,000 after acquiring an additional 236 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Chevron by 13.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 91,859 shares of the oil and gas company’s stock valued at $13,528,000 after purchasing an additional 11,151 shares in the last quarter. Gordian Advisors LLC acquired a new position in Chevron in the 3rd quarter worth about $236,000. Centennial Wealth Advisory LLC boosted its position in Chevron by 5.8% during the third quarter. Centennial Wealth Advisory LLC now owns 5,453 shares of the oil and gas company’s stock worth $803,000 after purchasing an additional 299 shares in the last quarter. Finally, Maia Wealth LLC grew its holdings in Chevron by 3.1% in the third quarter. Maia Wealth LLC now owns 3,577 shares of the oil and gas company’s stock valued at $538,000 after purchasing an additional 107 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. Truist Financial increased their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday. 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. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday. Finally, Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Up 2.8 %

Shares of NYSE CVX opened at $157.65 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $288.33 billion, a P/E ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. The business’s fifty day simple moving average is $147.43 and its 200-day simple moving average is $152.90. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS 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 the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 EPS. As a group, equities analysts predict that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Dividend Announcement

The business 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 of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.14%. Chevron’s dividend payout ratio is currently 71.65%.

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.