Greenwich Wealth Management LLC Sells 114 Shares of Chevron Co. (NYSE:CVX)

Greenwich Wealth Management LLC lowered its position in Chevron Co. (NYSE:CVX) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,866 shares of the oil and gas company’s stock after selling 114 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Chevron were worth $448,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc boosted its holdings in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Capital World Investors raised its stake in shares of Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares in the last quarter. Franklin Resources Inc. grew its stake in Chevron by 13.0% in the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Chevron by 68,604.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock worth $180,158,000 after buying an additional 1,206,059 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in Chevron during the 1st quarter worth about $156,482,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX stock opened at $140.61 on Monday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The business has a fifty day moving average of $149.12 and a two-hundred day moving average of $154.75. The stock has a market cap of $257.16 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm 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 EPS. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.64%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. Truist Financial lowered their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada lowered their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.82.

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.