Cetera Investment Advisers Sells 33,621 Shares of Chevron Co. (NYSE:CVX)

Cetera Investment Advisers decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 715,379 shares of the oil and gas company’s stock after selling 33,621 shares during the period. Cetera Investment Advisers’ holdings in Chevron were worth $111,900,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CVX. Berkshire Hathaway Inc lifted its position in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after purchasing an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Chevron by 68,604.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after buying an additional 1,206,059 shares during the last quarter. Finally, Wulff Hansen & CO. grew its holdings in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Barclays reduced 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. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.00.

Chevron Stock Up 1.2 %

CVX opened at $147.27 on Tuesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a market cap of $271.41 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.68 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 company has a 50 day moving average of $146.43 and a 200 day moving average of $154.25.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

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.