Chevron Co. (NYSE:CVX) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 541,778 shares of the oil and gas company’s stock after selling 3,899 shares during the quarter. Chevron comprises 1.1% of Bartlett & CO. Wealth Management LLC’s portfolio, making the stock its 26th largest position. Bartlett & CO. Wealth Management LLC’s holdings in Chevron were worth $79,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron in the first quarter valued at approximately $55,000. Finally, Richardson Capital Management LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $58,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

CVX stock opened at $150.74 on Friday. 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 company has a 50-day moving average of $146.07 and a two-hundred day moving average of $153.71. The stock has a market capitalization of $277.81 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. Barclays decreased their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. 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 report on Friday, September 27th. Finally, Bank of America began coverage on shares of Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 target price for the company. Five 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 presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.