Daymark Wealth Partners LLC Has $28.36 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Daymark Wealth Partners LLC reduced its stake in Chevron Co. (NYSE:CVX) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,587 shares of the oil and gas company’s stock after selling 414 shares during the period. Chevron accounts for approximately 0.9% of Daymark Wealth Partners LLC’s investment portfolio, making the stock its 20th biggest position. Daymark Wealth Partners LLC’s holdings in Chevron were worth $28,362,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. 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 buying 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 increased its stake in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC lifted its holdings in 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 during the last quarter. Finally, Marks Group Wealth Management Inc boosted its stake in Chevron by 3.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.0 %

NYSE CVX traded down $0.06 during mid-day trading on Wednesday, reaching $148.69. 1,072,091 shares of the stock were exchanged, compared to its average volume of 7,776,330. The stock has a 50 day simple moving average of $145.66 and a 200-day simple moving average of $154.05. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market cap of $274.03 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.72 and a beta of 1.09.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Barclays lowered their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $178.59.

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.