Aviso Wealth Management Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Aviso Wealth Management trimmed its position in Chevron Co. (NYSE:CVX) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,037 shares of the oil and gas company’s stock after selling 1,554 shares during the quarter. Aviso Wealth Management’s holdings in Chevron were worth $788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its holdings in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 3.0% in 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 in the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 3.2% in 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 in the last quarter. Legal & General Group Plc lifted its holdings in shares of 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 buying an additional 629,644 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of 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 worth $2,116,600,000 after buying an additional 743,042 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock opened at $145.49 on Friday. 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 stock has a market capitalization of $268.13 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.68 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The firm’s 50-day moving average price is $146.63 and its two-hundred day moving average price is $154.31.

Chevron (NYSE:CVX) last released its quarterly 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 for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 EPS. As a group, equities analysts predict that Chevron Co. will post 11.02 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. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Scotiabank decreased their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. UBS Group decreased their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $180.24.

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.