Wedmont Private Capital Trims Stake in Chevron Co. (NYSE:CVX)

Wedmont Private Capital lessened its stake in shares of Chevron Co. (NYSE:CVX) by 14.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,012 shares of the oil and gas company’s stock after selling 1,970 shares during the period. Wedmont Private Capital’s holdings in Chevron were worth $1,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Capital Advisory LLC increased its holdings in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter worth $40,000. Finally, Vima LLC bought a new stake in Chevron during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank lowered their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Trading Up 0.6 %

CVX opened at $149.70 on Thursday. The firm has a market cap of $273.79 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.72 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $145.66 and a 200-day moving average price of $154.05. Chevron Co. has a 12 month low of $135.37 and a 12 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 EPS 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 for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.36%. Chevron’s payout ratio is currently 59.98%.

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.