Asset Dedication LLC Has $3.37 Million Stake in Chevron Co. (NYSE:CVX)

Asset Dedication LLC lowered its position in Chevron Co. (NYSE:CVX) by 20.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,886 shares of the oil and gas company’s stock after selling 5,815 shares during the period. Asset Dedication LLC’s holdings in Chevron were worth $3,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Anfield Capital Management LLC increased its holdings in shares of Chevron by 118.0% during the 2nd 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 last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the 2nd 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 in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron in the first quarter valued at approximately $55,000. Finally, Richardson Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at approximately $58,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $147.73 on Wednesday. The firm has a market capitalization of $272.26 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. 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 firm’s fifty day moving average price is $145.70 and its two-hundred day moving average price is $153.82. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the firm earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group lifted their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.81.

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.