Creative Planning Has $80.39 Million Stake in Chevron Co. (NYSE:CVX)

Creative Planning lowered its stake in Chevron Co. (NYSE:CVX) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 545,842 shares of the oil and gas company’s stock after selling 23,818 shares during the period. Creative Planning’s holdings in Chevron were worth $80,386,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wesbanco Bank Inc. increased its stake in shares of Chevron by 1.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock valued at $33,671,000 after buying an additional 4,004 shares during the period. CX Institutional raised its holdings in Chevron by 97.0% during the 3rd quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock worth $6,801,000 after purchasing an additional 22,735 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Chevron by 4.3% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 120 shares during the period. Novare Capital Management LLC lifted its position in Chevron by 1.3% during the 3rd quarter. Novare Capital Management LLC now owns 65,311 shares of the oil and gas company’s stock valued at $9,618,000 after purchasing an additional 864 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of Chevron by 34.7% in the 3rd quarter. ORG Partners LLC now owns 15,514 shares of the oil and gas company’s stock valued at $2,286,000 after purchasing an additional 3,995 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

NYSE:CVX opened at $150.75 on Friday. The stock has a 50-day simple moving average of $146.07 and a 200 day simple moving average of $153.66. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a market cap of $277.83 billion, a PE ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. 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 issued 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio is 59.98%.

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.