Forte Capital LLC ADV Sells 164 Shares of Chevron Co. (NYSE:CVX)

Forte Capital LLC ADV decreased its stake in shares of Chevron Co. (NYSE:CVX) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,007 shares of the oil and gas company’s stock after selling 164 shares during the quarter. Forte Capital LLC ADV’s holdings in Chevron were worth $885,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new position in Chevron in the third quarter worth approximately $29,000. Anfield Capital Management LLC lifted its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Finally, Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.65 on Thursday. The stock has a market cap of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a 50 day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.05 earnings per share. As a group, analysts predict that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.14%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.