West Family Investments Inc. Trims Stock Position in Chevron Co. (NYSE:CVX)

West Family Investments Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 83.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,710 shares of the oil and gas company’s stock after selling 23,680 shares during the period. West Family Investments Inc.’s holdings in Chevron were worth $694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVX. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Chevron in the third quarter valued at about $10,959,000. Banque Cantonale Vaudoise grew its holdings in shares of Chevron by 13.9% in the third quarter. Banque Cantonale Vaudoise now owns 72,017 shares of the oil and gas company’s stock valued at $10,606,000 after purchasing an additional 8,772 shares during the period. SouthState Corp boosted its holdings in Chevron by 3.7% in the 3rd quarter. SouthState Corp now owns 96,180 shares of the oil and gas company’s stock valued at $14,164,000 after purchasing an additional 3,398 shares during the last quarter. Beddow Capital Management Inc. lifted its holdings in Chevron by 7.4% in the third quarter. Beddow Capital Management Inc. now owns 2,175 shares of the oil and gas company’s stock valued at $320,000 after acquiring an additional 150 shares during the last quarter. Finally, Guardian Wealth Advisors LLC increased its stake in Chevron by 3.4% during the third quarter. Guardian Wealth Advisors LLC now owns 5,999 shares of the oil and gas company’s stock worth $884,000 after acquiring an additional 200 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho dropped 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. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.6 %

Shares of NYSE CVX opened at $159.75 on Tuesday. The firm has a market cap of $287.09 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The firm’s 50 day moving average price is $149.80 and its 200 day moving average price is $152.57. 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 quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its 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 analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.08%. Chevron’s dividend payout ratio is presently 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.