Eclectic Associates Inc. ADV Cuts Stock Position in Chevron Co. (NYSE:CVX)

Eclectic Associates Inc. ADV cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,374 shares of the oil and gas company’s stock after selling 74 shares during the period. Eclectic Associates Inc. ADV’s holdings in Chevron were worth $497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. J. W. Coons Advisors LLC increased its stake in shares of Chevron by 1.4% during the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after buying an additional 100 shares during the period. Wescott Financial Advisory Group LLC increased its stake in Chevron by 10.7% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,459 shares of the oil and gas company’s stock valued at $516,000 after purchasing an additional 334 shares during the last quarter. Wealth Quarterback LLC increased its stake in Chevron by 5.1% in the fourth quarter. Wealth Quarterback LLC now owns 6,956 shares of the oil and gas company’s stock valued at $1,037,000 after purchasing an additional 335 shares during the last quarter. Waterloo Capital L.P. increased its stake in Chevron by 90.5% in the fourth quarter. Waterloo Capital L.P. now owns 6,278 shares of the oil and gas company’s stock valued at $936,000 after purchasing an additional 2,982 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Chevron by 1.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 713,990 shares of the oil and gas company’s stock valued at $106,499,000 after purchasing an additional 6,744 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CVX shares. UBS Group dropped their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Truist Financial dropped their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.00.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.51 during mid-day trading on Friday, hitting $150.74. 7,895,285 shares of the company were exchanged, compared to its average volume of 7,830,814. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $145.99 and a 200-day simple moving average of $154.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The firm has a market cap of $277.81 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data 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). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 EPS. On average, sell-side analysts forecast that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 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.