Birchcreek Wealth Management LLC Trims Stake in Chevron Co. (NYSE:CVX)

Birchcreek Wealth Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,356 shares of the oil and gas company’s stock after selling 100 shares during the period. Birchcreek Wealth Management LLC’s holdings in Chevron were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Montz Harcus Wealth Management LLC raised its position in shares of 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 purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its stake 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 purchasing an additional 64 shares in the last quarter. Tacita Capital Inc boosted its holdings in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares in the last quarter. Finally, S.A. Mason LLC raised its position in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVX shares. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Down 0.1 %

Shares of CVX traded down $0.11 during mid-day trading on Friday, reaching $161.69. The company had a trading volume of 858,468 shares, compared to its average volume of 7,641,052. The company has a market capitalization of $290.57 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50-day moving average price of $148.93 and a 200 day moving average price of $152.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared 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 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.