Pathway Financial Advisors LLC Sells 374 Shares of Chevron Co. (NYSE:CVX)

Pathway Financial Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 19.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,517 shares of the oil and gas company’s stock after selling 374 shares during the period. Pathway Financial Advisors LLC’s holdings in Chevron were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Bridgewater Associates LP boosted its stake in shares of Chevron by 952.5% during the fourth quarter. Bridgewater Associates LP now owns 76,812 shares of the oil and gas company’s stock valued at $11,457,000 after purchasing an additional 69,514 shares during the period. Hancock Whitney Corp lifted its stake in Chevron by 1.1% in the fourth quarter. Hancock Whitney Corp now owns 95,837 shares of the oil and gas company’s stock worth $14,295,000 after acquiring an additional 1,000 shares during the period. Rench Wealth Management Inc. lifted its stake in Chevron by 1.5% in the fourth quarter. Rench Wealth Management Inc. now owns 23,364 shares of the oil and gas company’s stock worth $3,485,000 after acquiring an additional 349 shares during the period. Vista Investment Management lifted its stake in Chevron by 14.7% in the fourth quarter. Vista Investment Management now owns 7,733 shares of the oil and gas company’s stock worth $1,153,000 after acquiring an additional 993 shares during the period. Finally, First Financial Bankshares Inc purchased a new stake in Chevron in the fourth quarter worth about $94,515,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial decreased their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Price Performance

Shares of NYSE:CVX opened at $148.76 on Wednesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company’s 50 day moving average is $145.88 and its 200 day moving average is $154.09. 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 company has a market cap of $274.16 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09.

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 analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.08 EPS. On average, sell-side analysts forecast that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The company 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 was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.38%. Chevron’s 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.