waypoint wealth counsel Sells 218 Shares of Chevron Co. (NYSE:CVX)

waypoint wealth counsel lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,170 shares of the oil and gas company’s stock after selling 218 shares during the period. waypoint wealth counsel’s holdings in Chevron were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Berkshire Hathaway Inc boosted its holdings in shares of Chevron by 14.4% in the fourth 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 buying an additional 15,845,037 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Wulff Hansen & CO. increased its holdings in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Chevron in the 1st quarter valued at about $156,482,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Chevron in the first quarter valued at about $123,681,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Truist Financial decreased their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $179.00.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.51 during mid-day trading on Friday, reaching $150.74. 7,895,285 shares of the company were exchanged, compared to its average volume of 8,508,590. The stock has a market capitalization of $275.69 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $145.99 and its 200-day simple moving average is $154.12. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 earnings per share. As a group, research analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date 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.