Catalyst Financial Partners LLC Sells 636 Shares of Chevron Co. (NYSE:CVX)

Catalyst Financial Partners LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,710 shares of the oil and gas company’s stock after selling 636 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Chevron were worth $1,135,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. grew its position in shares of Chevron by 3.0% during the 2nd 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 period. Capital World Investors boosted its stake 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 acquiring an additional 495,879 shares in the last quarter. Legal & General Group Plc grew its holdings in Chevron by 4.9% in 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 purchasing an additional 629,644 shares during the period. Capital International Investors increased its stake in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 1.0% during the second 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 during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $148.06 on Thursday. The firm’s 50-day simple moving average is $146.79 and its two-hundred day simple moving average is $153.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market cap of $270.79 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.