Austin Private Wealth LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Austin Private Wealth LLC reduced its stake in Chevron Co. (NYSE:CVX) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,971 shares of the oil and gas company’s stock after selling 519 shares during the period. Austin Private Wealth LLC’s holdings in Chevron were worth $1,040,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its position in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the period. DHJJ Financial Advisors Ltd. purchased a new position in Chevron during the third quarter valued at $35,000. Valued Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at $33,000. Finally, Worth Asset Management LLC purchased a new position in Chevron during the first quarter valued at $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of several analyst reports. Piper Sandler reduced their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research note on Tuesday, January 16th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research note on Tuesday, February 6th. Finally, Mizuho boosted their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Price Performance

NYSE CVX traded up $1.39 during trading hours on Thursday, reaching $157.74. The company’s stock had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The firm’s 50-day moving average price is $151.60 and its 200-day moving average price is $152.67. The company has a quick ratio of 1.01, a current ratio of 1.27 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 $172.88. The company has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.09 EPS. On average, equities research analysts predict that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is 57.39%.

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.