Aprio Wealth Management LLC Trims Stake in Chevron Co. (NYSE:CVX)

Aprio Wealth Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 19.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,552 shares of the oil and gas company’s stock after selling 1,073 shares during the period. Aprio Wealth Management LLC’s holdings in Chevron were worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Visionary Wealth Advisors grew its stake in shares of Chevron by 3.1% in the 4th quarter. Visionary Wealth Advisors now owns 66,259 shares of the oil and gas company’s stock worth $9,883,000 after buying an additional 1,996 shares during the last quarter. Bridgewater Associates LP lifted its position in Chevron by 952.5% in the 4th quarter. Bridgewater Associates LP now owns 76,812 shares of the oil and gas company’s stock valued at $11,457,000 after acquiring an additional 69,514 shares in the last quarter. Greystone Financial Group LLC lifted its position in Chevron by 52.0% in the 4th quarter. Greystone Financial Group LLC now owns 36,070 shares of the oil and gas company’s stock valued at $5,380,000 after acquiring an additional 12,347 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in Chevron in the 4th quarter valued at approximately $17,659,000. Finally, Hancock Whitney Corp lifted its position in Chevron by 1.1% in the 4th quarter. Hancock Whitney Corp now owns 95,837 shares of the oil and gas company’s stock valued at $14,295,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

Shares of CVX stock opened at $151.14 on Tuesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $278.55 billion, a PE ratio of 13.90, a PEG ratio of 2.72 and a beta of 1.09. The stock has a fifty day simple moving average of $145.99 and a two-hundred day simple moving average of $154.11.

Chevron (NYSE:CVX) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid 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 yield of 4.31%. Chevron’s payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CVX shares. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered 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 lowered their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Royal Bank of Canada lowered their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

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.