Lyell Wealth Management LP Has $7.67 Million Holdings in Chevron Co. (NYSE:CVX)

Lyell Wealth Management LP cut its stake in Chevron Co. (NYSE:CVX) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,109 shares of the oil and gas company’s stock after selling 5,279 shares during the period. Lyell Wealth Management LP’s holdings in Chevron were worth $7,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Montz Harcus Wealth Management LLC boosted its holdings in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the last quarter. Mayfair Advisory Group LLC boosted its holdings in Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after purchasing an additional 65 shares during the last quarter. Penbrook Management LLC boosted its stake in Chevron by 3.9% in the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 65 shares during the last quarter. Finally, Verum Partners LLC boosted its stake in Chevron by 3.0% in the first quarter. Verum Partners LLC now owns 2,236 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 65 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, Mizuho dropped their target price 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. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Chevron stock opened at $150.81 on Friday. The firm’s 50 day simple moving average is $146.59 and its 200 day simple moving average is $153.30. 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 firm has a market capitalization of $277.94 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue 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, analysts expect that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio 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.