Financial Advisory Partners LLC Trims Stake in Chevron Co. (NYSE:CVX)

Financial Advisory Partners LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,647 shares of the oil and gas company’s stock after selling 345 shares during the quarter. Financial Advisory Partners LLC’s holdings in Chevron were worth $2,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CVX. Berkshire Hathaway Inc boosted its position in Chevron by 14.4% during 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. Massachusetts Financial Services Co. MA lifted its position in Chevron by 55.5% during 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 acquiring an additional 3,048,819 shares during the period. Wulff Hansen & CO. lifted its position 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 acquiring an additional 1,168,137 shares during the period. Global Assets Advisory LLC acquired a new stake in Chevron during the first quarter worth about $156,482,000. Finally, Confluence Investment Management LLC acquired a new stake in Chevron in the first quarter valued at approximately $123,681,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX traded up $0.50 during mid-day trading on Thursday, reaching $150.15. 1,334,681 shares of the company’s stock traded hands, compared to its average volume of 7,763,369. 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 stock has a market capitalization of $274.61 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The business’s 50-day moving average price is $145.45 and its 200-day moving average price is $154.02.

Chevron (NYSE:CVX) last announced 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued 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 dividend yield of 4.34%. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Truist Financial dropped their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Scotiabank decreased their target price 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. Barclays decreased their target price 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 decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, UBS Group raised their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.