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

LJI Wealth Management LLC lessened its position in Chevron Co. (NYSE:CVX) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,518 shares of the oil and gas company’s stock after selling 100 shares during the period. LJI Wealth Management LLC’s holdings in Chevron were worth $707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Bank of New York Mellon Corp lifted its position in Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after buying an additional 654,482 shares during the period. Capital World Investors boosted its stake in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Capital International Investors grew its holdings in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVX shares. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday. Finally, UBS Group dropped their price target on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $182.41.

Chevron Price Performance

Shares of CVX stock opened at $143.96 on Thursday. The firm has a fifty day simple moving average of $148.47 and a 200-day simple moving average of $154.54. The company has a market capitalization of $263.29 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. 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 (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced 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 dividend yield of 4.53%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.