Chevron Co. (NYSE:CVX) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc cut its position in shares of Chevron Co. (NYSE:CVX) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,947 shares of the oil and gas company’s stock after selling 1,149 shares during the quarter. Morse Asset Management Inc’s holdings in Chevron were worth $4,059,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Pacifica Partners Inc. grew its stake in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC grew its position in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC grew its position in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its stake in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc raised its position in shares of Chevron by 3.1% during the 1st 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 last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.5 %

Shares of CVX opened at $145.68 on Monday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The firm has a market capitalization of $268.48 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. 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’s fifty day simple moving average is $148.06 and its 200 day simple moving average is $154.53.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.48%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CVX shares. 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 report on Wednesday, September 18th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

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.