Chevron Co. (NYSE:CVX) Shares Sold by Eagle Wealth Strategies LLC

Eagle Wealth Strategies LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,448 shares of the oil and gas company’s stock after selling 93 shares during the quarter. Chevron comprises 1.1% of Eagle Wealth Strategies LLC’s portfolio, making the stock its 14th biggest position. Eagle Wealth Strategies LLC’s holdings in Chevron were worth $1,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Capital Management LLC increased its stake in Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC acquired a new stake in Chevron during the first quarter worth about $345,000. KCM Investment Advisors LLC boosted its position in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the fourth quarter worth about $46,000. Finally, Hosking Partners LLP purchased a new stake in shares of Chevron in the first quarter worth about $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday. UBS Group upped their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Scotiabank reduced their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $178.59.

Chevron Stock Down 0.2 %

Shares of NYSE CVX traded down $0.32 during mid-day trading on Wednesday, reaching $148.43. 457,592 shares of the company traded hands, compared to its average volume of 7,773,179. 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 cap of $273.55 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company’s fifty day moving average is $145.66 and its two-hundred day moving average is $154.05. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 EPS. On average, analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 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.