RW Investment Management LLC Sells 710 Shares of Chevron Co. (NYSE:CVX)

RW Investment Management LLC decreased its position in Chevron Co. (NYSE:CVX) by 10.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,935 shares of the oil and gas company’s stock after selling 710 shares during the period. RW Investment Management LLC’s holdings in Chevron were worth $874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVX. Marietta Wealth Management LLC boosted its holdings in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares in the last quarter. Leo Wealth LLC boosted its holdings in Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares in the last quarter. RPG Investment Advisory LLC boosted its holdings in Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares in the last quarter. Garner Asset Management Corp boosted its holdings in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in Chevron by 3.2% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after acquiring an additional 3,561 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.1 %

CVX stock opened at $161.33 on Thursday. The company has a market capitalization of $289.92 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.59 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50 day simple moving average of $150.70 and a two-hundred day simple moving average of $152.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, UBS Group boosted their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.93.

About Chevron

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.