Chevron Co. (NYSE:CVX) Shares Sold by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC reduced its position in Chevron Co. (NYSE:CVX) by 15.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,146 shares of the oil and gas company’s stock after selling 577 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Chevron were worth $463,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. J. W. Coons Advisors LLC boosted its position in shares of Chevron by 1.4% during the 4th quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after purchasing an additional 100 shares in the last quarter. Morningstar Investment Services LLC grew its holdings in Chevron by 99.0% during the 4th quarter. Morningstar Investment Services LLC now owns 251,978 shares of the oil and gas company’s stock valued at $37,739,000 after buying an additional 125,344 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth $30,000. Beacon Investment Advisors LLC boosted its stake in shares of Chevron by 2.6% during the fourth quarter. Beacon Investment Advisors LLC now owns 4,190 shares of the oil and gas company’s stock valued at $625,000 after acquiring an additional 105 shares during the last quarter. Finally, Delaney Dennis R raised its holdings in Chevron by 13.3% in the 4th quarter. Delaney Dennis R now owns 22,163 shares of the oil and gas company’s stock valued at $3,306,000 after acquiring an additional 2,595 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $151.22 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The business’s fifty day moving average is $146.13 and its 200 day moving average is $154.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $278.69 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 period in the prior year, the business earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Scotiabank decreased their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial reduced their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.00.

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.