Wealth Enhancement Advisory Services LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Wealth Enhancement Advisory Services LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 0.1% during the third quarter, HoldingsChannel reports. The firm owned 881,599 shares of the oil and gas company’s stock after selling 1,033 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Chevron were worth $129,833,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. PFG Investments LLC increased its position in shares of Chevron by 19.0% during the 3rd quarter. PFG Investments LLC now owns 48,957 shares of the oil and gas company’s stock valued at $7,210,000 after purchasing an additional 7,818 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares during the period. Horizon Bancorp Inc. IN increased its position in Chevron by 18.4% during the third quarter. Horizon Bancorp Inc. IN now owns 1,454 shares of the oil and gas company’s stock valued at $214,000 after acquiring an additional 226 shares during the last quarter. Sageworth Trust Co bought a new stake in shares of Chevron in the 3rd quarter worth about $600,000. Finally, Arkadios Wealth Advisors boosted its stake in shares of Chevron by 12.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 78,969 shares of the oil and gas company’s stock worth $11,630,000 after purchasing an additional 8,974 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. UBS Group increased their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Up 0.2 %

Shares of NYSE:CVX opened at $150.81 on Friday. The company has a market capitalization of $277.94 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. 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 business’s fifty day simple moving average is $146.59 and its 200-day simple moving average is $153.30. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s dividend payout ratio is currently 59.98%.

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.