Simplicity Wealth LLC Has $1.80 Million Stock Position in Chevron Co. (NYSE:CVX)

Simplicity Wealth LLC cut its holdings in Chevron Co. (NYSE:CVX) by 84.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,214 shares of the oil and gas company’s stock after selling 63,979 shares during the quarter. Simplicity Wealth LLC’s holdings in Chevron were worth $1,799,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Massachusetts Financial Services Co. MA lifted its stake in Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after buying an additional 3,048,819 shares during the period. Wulff Hansen & CO. lifted its stake in Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares during the period. Global Assets Advisory LLC acquired a new position in Chevron in the first quarter valued at approximately $156,482,000. Confluence Investment Management LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $123,681,000. Finally, Capital International Investors increased its holdings in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Barclays decreased their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.59.

Chevron Trading Up 0.5 %

Shares of Chevron stock opened at $151.42 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The stock’s 50-day simple moving average is $145.46 and its 200 day simple moving average is $153.96. The stock has a market capitalization of $276.94 billion, a P/E ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

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.