Chevron Co. (NYSE:CVX) Position Trimmed by Clearview Wealth Advisors LLC

Clearview Wealth Advisors LLC lessened its position in Chevron Co. (NYSE:CVX) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,764 shares of the oil and gas company’s stock after selling 345 shares during the quarter. Chevron makes up about 1.2% of Clearview Wealth Advisors LLC’s holdings, making the stock its 20th biggest holding. Clearview Wealth Advisors LLC’s holdings in Chevron were worth $1,585,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CVX. American Capital Advisory LLC increased its stake in shares of 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 during the period. Anfield Capital Management LLC raised its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Chevron in the 1st quarter valued at about $55,000. Finally, Richardson Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 2.7 %

Shares of NYSE:CVX opened at $147.73 on Wednesday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $272.26 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.72 and a beta of 1.09. The stock has a 50 day moving average price of $145.70 and a 200-day moving average price of $153.82.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted $3.08 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays cut 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. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial dropped their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.