Commonwealth Equity Services LLC Has $194.28 Million Position in Chevron Co. (NYSE:CVX)

Commonwealth Equity Services LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 3.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,319,178 shares of the oil and gas company’s stock after selling 40,171 shares during the period. Commonwealth Equity Services LLC’s holdings in Chevron were worth $194,275,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $47,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Chevron during the 1st quarter worth approximately $55,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Chevron in the 1st quarter worth approximately $58,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.3 %

Shares of Chevron stock traded down $0.45 on Friday, hitting $150.75. The company had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. The stock has a market capitalization of $277.83 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The stock has a 50 day moving average of $146.07 and a 200-day moving average of $153.71.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. UBS Group lifted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Barclays cut 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 equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.07.

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.