Amplius Wealth Advisors LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

Amplius Wealth Advisors LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,378 shares of the oil and gas company’s stock after selling 152 shares during the period. Amplius Wealth Advisors LLC’s holdings in Chevron were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vontobel Holding Ltd. grew its position in Chevron by 6.9% during the third quarter. Vontobel Holding Ltd. now owns 162,083 shares of the oil and gas company’s stock valued at $23,870,000 after buying an additional 10,508 shares during the period. McKinley Carter Wealth Services Inc. boosted its stake in shares of Chevron by 1.9% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 21,121 shares of the oil and gas company’s stock worth $3,110,000 after acquiring an additional 401 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Chevron by 2.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,652 shares of the oil and gas company’s stock worth $4,072,000 after acquiring an additional 667 shares in the last quarter. Sunpointe LLC increased its stake in shares of Chevron by 6.3% in the 3rd quarter. Sunpointe LLC now owns 3,177 shares of the oil and gas company’s stock valued at $468,000 after purchasing an additional 189 shares in the last quarter. Finally, Stableford Capital II LLC raised its holdings in Chevron by 8.1% in the 3rd quarter. Stableford Capital II LLC now owns 7,486 shares of the oil and gas company’s stock worth $1,134,000 after purchasing an additional 564 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Truist Financial dropped their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. 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 report on Friday, September 27th. Finally, Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $176.81.

Chevron Price Performance

NYSE:CVX opened at $148.69 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The stock has a market cap of $274.03 billion, a PE ratio of 13.68, a P/E/G ratio of 2.72 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. The stock has a 50 day moving average price of $145.82 and a 200 day moving average price of $153.78.

Chevron (NYSE:CVX) last issued its 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). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 earnings per share. Equities research analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.