ABLE Financial Group LLC Sells 297 Shares of Chevron Co. (NYSE:CVX)

ABLE Financial Group LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,189 shares of the oil and gas company’s stock after selling 297 shares during the quarter. ABLE Financial Group LLC’s holdings in Chevron were worth $1,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CVX. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC raised its holdings 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 worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its position in 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 acquiring an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Chevron in the 3rd quarter worth $47,000. Finally, Krane Funds Advisors LLC bought a new position in Chevron during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Truist Financial upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. UBS Group lifted their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

Shares of CVX traded up $0.18 during mid-day trading on Friday, reaching $156.95. The company’s stock had a trading volume of 1,522,742 shares, compared to its average volume of 7,642,312. 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 stock has a market cap of $287.05 billion, a P/E ratio of 17.13, a PEG ratio of 3.53 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.05 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.