Financial Advisory Partners LLC Sells 345 Shares of Chevron Co. (NYSE:CVX)

Financial Advisory Partners LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 1.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 19,647 shares of the oil and gas company’s stock after selling 345 shares during the quarter. Financial Advisory Partners LLC’s holdings in Chevron were worth $2,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Eagle Capital Management LLC lifted its holdings in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC purchased a new position in shares of Chevron during the first quarter valued at about $345,000. KCM Investment Advisors LLC lifted its holdings in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron in the 4th quarter valued at about $46,000. Finally, Hosking Partners LLP bought a new stake in Chevron in the first quarter worth about $4,924,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CVX shares. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Mizuho cut 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. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.59.

Chevron Trading Up 0.3 %

Shares of Chevron stock traded up $0.50 during mid-day trading on Thursday, hitting $150.15. 1,334,681 shares of the stock were exchanged, compared to its average volume of 7,763,369. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The stock has a market capitalization of $274.61 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a 50-day simple moving average of $145.45 and a 200 day simple moving average of $154.02. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

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 the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 4.34%. Chevron’s dividend payout ratio is presently 59.98%.

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.