B. Riley Wealth Advisors Inc. Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 112,796 shares of the oil and gas company’s stock after selling 9,029 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Chevron were worth $17,644,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Berkshire Hathaway Inc lifted its position in 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 valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Chevron by 3.0% during 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 purchasing an additional 501,969 shares in the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after purchasing an additional 629,644 shares during the period. Finally, Capital International Investors grew its stake in Chevron by 5.9% during the 1st 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 during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. UBS Group reduced their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.24.

Chevron Trading Up 2.5 %

NYSE:CVX opened at $145.49 on Monday. 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 1 year low of $135.37 and a 1 year high of $171.70. The stock has a fifty day moving average price of $146.63 and a two-hundred day moving average price of $154.31. 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 (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.