Marcum Wealth LLC Has $2.65 Million Stock Position in Chevron Co. (NYSE:CVX)

Marcum Wealth LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,962 shares of the oil and gas company’s stock after selling 1,219 shares during the period. Marcum Wealth LLC’s holdings in Chevron were worth $2,645,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Vima LLC bought a new stake in Chevron during the fourth quarter worth $44,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

Chevron stock opened at $149.70 on Thursday. The stock has a market cap of $273.79 billion, a P/E ratio of 13.77, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The firm’s fifty day moving average price is $145.66 and its 200-day moving average price is $154.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its quarterly earnings results 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the business earned $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.36%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Barclays decreased their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.59.

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.