Chevron Co. (NYSE:CVX) Stock Position Lessened by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,681 shares of the oil and gas company’s stock after selling 180 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Chevron were worth $542,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CVX. Rational Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter worth $30,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in 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 during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Scotiabank decreased 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. Finally, Truist Financial boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 0.5 %

NYSE:CVX opened at $162.36 on Monday. The company has a market capitalization of $291.78 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.58 and a beta of 1.09. The stock’s 50 day moving average price is $151.58 and its 200 day moving average price is $152.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

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

Chevron Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.