Lake Street Advisors Group LLC Decreases Position in Chevron Co. (NYSE:CVX)

Lake Street Advisors Group LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,186 shares of the oil and gas company’s stock after selling 1,562 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Chevron were worth $4,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in Chevron during the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in Chevron by 80.0% in 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 purchasing an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron during the 3rd quarter valued at about $35,000. Worth Asset Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at about $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron in the third quarter worth about $43,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CVX shares. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a research report on Tuesday, January 16th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Mizuho reduced their price target on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, November 14th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Finally, TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.56.

Read Our Latest Analysis on CVX

Chevron Stock Down 2.3 %

Shares of Chevron stock traded down $3.48 during trading hours on Monday, reaching $149.33. 9,166,818 shares of the company were exchanged, compared to its average volume of 8,757,424. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The firm has a market cap of $277.35 billion, a PE ratio of 13.15, a PEG ratio of 0.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock’s fifty day moving average is $149.87 and its 200 day moving average is $153.70.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the company earned $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 13.03 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 16th will be given a $1.63 dividend. The ex-dividend date is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.37%. Chevron’s dividend payout ratio is currently 57.39%.

Chevron Company Profile

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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