Baron Wealth Management LLC Sells 781 Shares of Chevron Co. (NYSE:CVX)

Baron Wealth Management LLC lessened its position in Chevron Co. (NYSE:CVX) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,809 shares of the oil and gas company’s stock after selling 781 shares during the quarter. Chevron comprises about 0.6% of Baron Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. Baron Wealth Management LLC’s holdings in Chevron were worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CVX. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter worth about $47,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Chevron in the third quarter worth about $47,000. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

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

Chevron Stock Performance

Shares of CVX opened at $160.78 on Tuesday. The firm has a 50-day moving average of $149.80 and a 200-day moving average of $152.57. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $288.94 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. 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 posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.