Chevron Co. (NYSE:CVX) Position Cut by Austin Private Wealth LLC

Austin Private Wealth LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,971 shares of the oil and gas company’s stock after selling 519 shares during the period. Austin Private Wealth LLC’s holdings in Chevron were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth about $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in Chevron during the 3rd quarter worth about $35,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth about $36,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a report on Tuesday, January 16th. Finally, TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Stock Performance

NYSE CVX traded up $1.39 during trading on Thursday, hitting $157.74. The company’s stock had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $151.60 and a 200 day moving average price of $152.67. The firm has a market cap of $292.97 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 EPS. Equities research analysts forecast that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. Chevron’s payout ratio is currently 57.39%.

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.