Vishria Bird Financial Group LLC Lowers Position in Chevron Co. (NYSE:CVX)

Vishria Bird Financial Group LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,519 shares of the oil and gas company’s stock after selling 122 shares during the quarter. Vishria Bird Financial Group LLC’s holdings in Chevron were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the period. Capital World Investors increased its position in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the period. Capital International Investors boosted its holdings in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after buying an additional 126,889 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

Shares of Chevron stock opened at $161.42 on Friday. The company’s 50-day moving average price is $149.39 and its 200-day moving average price is $152.68. The company has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.57 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 current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 EPS. On average, equities analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s payout ratio is presently 71.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. 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. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Mizuho lowered 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. Finally, Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus 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.