Wells Trecaso Financial Group LLC Sells 81 Shares of Chevron Co. (NYSE:CVX)

Wells Trecaso Financial Group LLC decreased its position in Chevron Co. (NYSE:CVX) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 8,624 shares of the oil and gas company’s stock after selling 81 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in Chevron were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Barry Investment Advisors LLC raised its position in Chevron by 4.4% in the 3rd quarter. Barry Investment Advisors LLC now owns 4,275 shares of the oil and gas company’s stock worth $630,000 after buying an additional 181 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Chevron by 131.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,291 shares of the oil and gas company’s stock worth $926,000 after buying an additional 3,573 shares during the last quarter. Traynor Capital Management Inc. raised its position in Chevron by 5.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 17,508 shares of the oil and gas company’s stock worth $2,578,000 after buying an additional 894 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its position in Chevron by 3.2% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after buying an additional 3,561 shares during the last quarter. Finally, Hunter Associates Investment Management LLC raised its position in Chevron by 8.9% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 20,705 shares of the oil and gas company’s stock worth $3,046,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

CVX stock opened at $150.55 on Tuesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $275.34 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 3.29 and a beta of 1.09. The business has a 50 day simple moving average of $146.66 and a two-hundred day simple moving average of $153.15.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s payout ratio is 64.55%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five 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 stock presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron 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.