Commonwealth Equity Services LLC Has $194.28 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Commonwealth Equity Services LLC reduced its position in Chevron Co. (NYSE:CVX) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,319,178 shares of the oil and gas company’s stock after selling 40,171 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of Chevron worth $194,275,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new position in Chevron during the first quarter worth $345,000. KCM Investment Advisors LLC increased its holdings in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Hosking Partners LLP bought a new position in shares of Chevron in the first quarter valued at about $4,924,000. Finally, Garner Asset Management Corp lifted its stake in shares of Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Bank of America started coverage on shares of Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 price target on the stock. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. UBS Group increased their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Truist Financial reduced their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company lowered their price target 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. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

CVX traded down $0.45 during trading on Friday, hitting $150.75. 5,208,202 shares of the stock traded hands, compared to its average volume of 7,706,832. The business has a 50 day moving average price of $146.07 and a 200 day moving average price of $153.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a market cap of $277.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for 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%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 EPS. Equities research analysts forecast that Chevron Co. will post 11.06 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. Stockholders of record on Monday, August 19th were paid 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 4.33%. Chevron’s 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.