Shira Ridge Wealth Management Sells 424 Shares of Chevron Co. (NYSE:CVX)

Shira Ridge Wealth Management decreased its position in Chevron Co. (NYSE:CVX) by 20.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,654 shares of the oil and gas company’s stock after selling 424 shares during the quarter. Shira Ridge Wealth Management’s holdings in Chevron were worth $244,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVX. Ameriprise Financial Inc. boosted its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors boosted its holdings in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Legal & General Group Plc boosted its holdings in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares during the last quarter. Capital International Investors boosted its holdings in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after purchasing an additional 126,889 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

NYSE:CVX opened at $151.42 on Friday. The firm has a market capitalization of $276.94 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The stock’s 50 day moving average price is $145.46 and its two-hundred day moving average price is $153.95. 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) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 EPS. Equities research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 64.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Mizuho cut 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. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.81.

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.