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

Legacy Capital Wealth Partners LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,162 shares of the oil and gas company’s stock after selling 962 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Chevron were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new stake in Chevron during the third quarter valued at about $29,000. Anfield Capital Management LLC grew its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC grew 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 valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in Chevron during the third quarter valued at about $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the third quarter worth about $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.1 %

Shares of Chevron stock opened at $156.93 on Friday. 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 business’s 50 day simple moving average is $147.80 and its 200-day simple moving average is $152.89. The stock has a market capitalization of $287.01 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.51 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 EPS. Equities research analysts forecast that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CVX shares. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Scotiabank decreased their target price 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. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Four 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron 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.