Chevron Co. (NYSE:CVX) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its position in Chevron Co. (NYSE:CVX) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 66,333 shares of the oil and gas company’s stock after selling 3,384 shares during the period. Axxcess Wealth Management LLC’s holdings in Chevron were worth $9,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rational Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC boosted its stake in shares of 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 buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings 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 worth $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new position in Chevron in the third quarter worth $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the third quarter valued at $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $156.93 on Friday. The stock has a market capitalization of $287.01 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.53 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 debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm’s 50-day moving average is $147.80 and its two-hundred day moving average is $152.89.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The firm 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. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. 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 report on Wednesday, July 17th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.93.

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.