Waverton Investment Management Ltd Lowers Holdings in Chevron Co. (NYSE:CVX)

Waverton Investment Management Ltd lessened its stake in Chevron Co. (NYSE:CVX) by 79.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,397 shares of the oil and gas company’s stock after selling 44,170 shares during the quarter. Waverton Investment Management Ltd’s holdings in Chevron were worth $1,678,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Montz Harcus Wealth Management LLC raised its position in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares in the last quarter. Tacita Capital Inc increased its holdings in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC increased its holdings in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after buying an additional 67 shares in the last quarter. Finally, S.A. Mason LLC increased its holdings in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.2 %

CVX stock opened at $156.55 on Tuesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $286.31 billion, a P/E ratio of 17.20, a PEG ratio of 3.51 and a beta of 1.09. The business’s 50-day moving average price is $147.80 and its 200-day moving average price is $152.74.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm earned $3.05 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 10.59 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CVX shares. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus 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.