B. Riley Wealth Advisors Inc. lessened its holdings in Chevron Co. (NYSE:CVX - Free Report) by 22.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,966 shares of the oil and gas company's stock after selling 25,830 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Chevron were worth $12,950,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Montz Harcus Wealth Management LLC grew its holdings in shares of Chevron by 2.2% in the second 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. Tacita Capital Inc grew 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 acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. increased its position in shares of Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after acquiring an additional 65 shares during the period. Cyndeo Wealth Partners LLC raised its stake in shares of Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock valued at $2,911,000 after acquiring an additional 67 shares during the last quarter. Finally, S.A. Mason LLC boosted its holdings in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock worth $1,330,000 after purchasing an additional 67 shares during the period. Institutional investors own 72.42% of the company's stock.
Chevron stock opened at $153.87 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a fifty day simple moving average of $155.35 and a two-hundred day simple moving average of $152.43. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $276.52 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.98 and a beta of 1.10.
Chevron (NYSE:CVX - Get Free Report) last posted its 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. The business had revenue of $50.67 billion during 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%. The firm's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 EPS. Equities analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. Chevron's dividend payout ratio is currently 71.65%.
A number of research firms have commented on CVX. Truist Financial upped their price target on Chevron from $155.00 to $160.00 and gave the company a "hold" rating in a research report on Friday, December 6th. UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Finally, Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and a consensus price target of $177.13.
Read Our Latest Stock Report on Chevron
In other 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 value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.
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.
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