Waldron Private Wealth LLC Sells 412 Shares of Chevron Co. (NYSE:CVX)

Waldron Private Wealth LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% in the third quarter, HoldingsChannel reports. The fund owned 21,928 shares of the oil and gas company’s stock after selling 412 shares during the period. Waldron Private Wealth LLC’s holdings in Chevron were worth $3,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Private Wealth Management Group LLC raised its holdings in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC raised its holdings in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares during the period. Mayfair Advisory Group LLC raised its holdings in Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the period. Finally, Penbrook Management LLC grew its position in Chevron by 3.9% in the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Price Performance

CVX opened at $150.92 on Wednesday. The firm has a market capitalization of $278.14 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business’s 50-day moving average is $146.32 and its two-hundred day moving average is $153.47. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

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 the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.08 EPS. Research analysts anticipate that Chevron Co. will post 10.95 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business 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 of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. Chevron’s payout ratio is currently 59.98%.

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.