Rise Advisors LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Rise Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,554 shares of the oil and gas company’s stock after selling 170 shares during the period. Rise Advisors LLC’s holdings in Chevron were worth $229,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. American Capital Advisory LLC raised its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Anfield Capital Management LLC raised its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Cooksen Wealth LLC purchased a new position in Chevron in the 4th quarter worth approximately $40,000. Finally, Vima LLC bought a new position in shares of Chevron in the 4th quarter worth $44,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CVX. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Truist Financial decreased their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, UBS Group lifted their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.81.

Get Our Latest Research Report on Chevron

Chevron Trading Up 0.5 %

CVX opened at $151.42 on Monday. The firm has a market capitalization of $276.94 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The business has a 50 day simple moving average of $145.46 and a two-hundred day simple moving average of $153.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.08 earnings per share. Analysts predict that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio (DPR) is 64.55%.

Chevron Profile

(Free Report)

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.

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