Chevron Co. (NYSE:CVX) Shares Sold by Ascent Wealth Partners LLC

by · The Markets Daily

Ascent Wealth Partners LLC reduced its stake in Chevron Co. (NYSE:CVX – Free Report) by 45.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,499 shares of the oil and gas company’s stock after selling 5,482 shares during the period. Ascent Wealth Partners LLC’s holdings in Chevron were worth $957,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new stake in Chevron in the first quarter valued at $566,000. Central Pacific Bank Trust Division acquired a new stake in Chevron in the first quarter valued at $2,303,000. Comprehensive Financial Consultants Institutional Inc. raised its stake in Chevron by 8.8% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 9,949 shares of the oil and gas company’s stock valued at $1,569,000 after buying an additional 801 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Chevron by 4.4% in the first quarter. Proficio Capital Partners LLC now owns 7,626 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 324 shares in the last quarter. Finally, United Community Bank raised its stake in Chevron by 0.9% in the first quarter. United Community Bank now owns 8,651 shares of the oil and gas company’s stock valued at $1,365,000 after buying an additional 74 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the topic of several research reports. UBS Group raised their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Read Our Latest Stock Report on CVX

Chevron Trading Down 0.2 %

Shares of NYSE CVX traded down $0.26 during trading on Thursday, hitting $157.46. 590,467 shares of the company traded hands, compared to its average volume of 7,636,446. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a 50-day moving average price of $147.43 and a 200-day moving average price of $152.90. The firm has a market capitalization of $287.98 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.43 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 10.65 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s dividend payout ratio is presently 71.65%.

Chevron Company Profile

(Free Report)

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.

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