Quotient Wealth Partners LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Quotient Wealth Partners LLC reduced its stake in Chevron Co. (NYSE:CVX) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,287 shares of the oil and gas company’s stock after selling 1,026 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Chevron were worth $6,375,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. American Capital Advisory LLC increased its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% in 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 during the last quarter. Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% during the second 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 valued at $40,000. Finally, Vima LLC purchased a new stake in Chevron during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company reduced 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. Scotiabank cut their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $178.59.

Chevron Price Performance

Chevron stock traded up $1.18 during mid-day trading on Thursday, hitting $150.83. 1,616,085 shares of the company were exchanged, compared to its average volume of 7,764,805. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. 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 business has a fifty day moving average of $145.45 and a 200 day moving average of $154.02. The company has a market capitalization of $275.86 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company 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 revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. As a group, sell-side analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio 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.