Chevron Co. (NYSE:CVX) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 53.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,834 shares of the oil and gas company’s stock after selling 5,653 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Chevron were worth $756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Pacifica Partners Inc. lifted its stake in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC lifted its stake in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC boosted its holdings in Chevron by 2.2% during 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 acquiring an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC grew its position in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in Chevron by 3.1% during the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CVX shares. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. UBS Group decreased their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Barclays decreased their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.41.

Chevron Stock Up 0.4 %

Shares of NYSE CVX opened at $143.96 on Thursday. The stock has a market cap 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 52-week low of $135.37 and a 52-week high of $171.70. The business has a 50-day moving average price of $148.47 and a 200 day moving average price of $154.54. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business posted $3.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.53%. Chevron’s payout ratio is 59.98%.

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.