Chevron Co. (NYSE:CVX) Shares Sold by Crown Wealth Group LLC

Crown Wealth Group LLC lessened its position in Chevron Co. (NYSE:CVX) by 22.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,198 shares of the oil and gas company’s stock after selling 647 shares during the period. Crown Wealth Group LLC’s holdings in Chevron were worth $344,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares during the period. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at about $2,902,007,000. Bank of New York Mellon Corp lifted its stake in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after purchasing an additional 654,482 shares during the period. Finally, Capital World Investors lifted its stake in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. Mizuho boosted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Truist Financial cut their price objective 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. Finally, Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Down 0.6 %

CVX traded down $0.92 during trading on Wednesday, hitting $146.03. 5,612,220 shares of the company’s stock were exchanged, compared to its average volume of 7,772,609. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a 50 day moving average price of $152.75 and a 200 day moving average price of $155.77. The firm has a market cap of $269.13 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.46%. Chevron’s dividend payout ratio (DPR) is presently 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.