Evernest Financial Advisors LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Evernest Financial Advisors LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 19.7% during the third quarter, Holdings Channel reports. The firm owned 3,299 shares of the oil and gas company’s stock after selling 808 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Chevron were worth $486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cherrydale Wealth Management LLC bought a new position in Chevron in the first quarter worth about $223,000. Westend Capital Management LLC bought a new position in shares of Chevron in the 1st quarter worth approximately $119,000. Steph & Co. raised its position in shares of Chevron by 19.0% in the 1st quarter. Steph & Co. now owns 5,777 shares of the oil and gas company’s stock worth $911,000 after acquiring an additional 922 shares in the last quarter. Game Plan Financial Advisors LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $1,437,000. Finally, Northwest Investment Counselors LLC grew its stake in Chevron by 8.2% in the first quarter. Northwest Investment Counselors LLC now owns 2,261 shares of the oil and gas company’s stock worth $357,000 after purchasing an additional 171 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $150.84 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $275.87 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. 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 firm has a 50 day moving average of $146.19 and a 200 day moving average of $153.55.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $3.08 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.95 earnings per share 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 $1.63 dividend. 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 4.32%. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lowered 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. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Company Profile

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.