Catalina Capital Group LLC Lowers Stock Position in Chevron Co. (NYSE:CVX)

Catalina Capital Group LLC decreased its stake in Chevron Co. (NYSE:CVX) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,936 shares of the oil and gas company’s stock after selling 371 shares during the period. Catalina Capital Group LLC’s holdings in Chevron were worth $1,021,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Avidian Wealth Enterprises LLC grew its position in Chevron by 1.9% during the third quarter. Avidian Wealth Enterprises LLC now owns 41,480 shares of the oil and gas company’s stock valued at $6,109,000 after acquiring an additional 785 shares during the last quarter. Long Run Wealth Advisors LLC boosted its stake in shares of Chevron by 16.4% in the 3rd quarter. Long Run Wealth Advisors LLC now owns 3,303 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 465 shares in the last quarter. Balentine LLC boosted its stake in shares of Chevron by 61.2% in the 3rd quarter. Balentine LLC now owns 8,801 shares of the oil and gas company’s stock valued at $1,296,000 after purchasing an additional 3,340 shares in the last quarter. HF Advisory Group LLC grew its holdings in shares of Chevron by 9.6% during the 3rd quarter. HF Advisory Group LLC now owns 4,342 shares of the oil and gas company’s stock valued at $639,000 after purchasing an additional 380 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in Chevron by 1.6% in the 3rd quarter. North Star Investment Management Corp. now owns 22,541 shares of the oil and gas company’s stock worth $3,320,000 after purchasing an additional 345 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.4 %

NYSE:CVX opened at $153.42 on Wednesday. The company’s 50-day simple moving average is $147.20 and its 200 day simple moving average is $152.86. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm has a market capitalization of $280.59 billion, a P/E ratio of 16.86, a PEG ratio of 3.43 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.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.05 EPS. As a group, analysts forecast that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.25%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVX. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.