RMR Wealth Builders Sells 1,378 Shares of Chevron Co. (NYSE:CVX)

RMR Wealth Builders cut its holdings in shares of Chevron Co. (NYSE:CVX) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,360 shares of the oil and gas company’s stock after selling 1,378 shares during the quarter. RMR Wealth Builders’ holdings in Chevron were worth $2,715,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Chevron by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after purchasing an additional 1,005 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Chevron in the 4th quarter valued at $83,000. North Star Asset Management Inc. raised its stake in shares of Chevron by 1.4% in the 4th quarter. North Star Asset Management Inc. now owns 12,280 shares of the oil and gas company’s stock valued at $1,832,000 after buying an additional 174 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its holdings in shares of Chevron by 796.5% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 15,599 shares of the oil and gas company’s stock worth $2,327,000 after acquiring an additional 13,859 shares during the period. Finally, Summit Wealth & Retirement Planning Inc. lifted its holdings in shares of Chevron by 41.9% during the 4th quarter. Summit Wealth & Retirement Planning Inc. now owns 2,425 shares of the oil and gas company’s stock worth $362,000 after acquiring an additional 716 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.5 %

NYSE:CVX traded up $0.76 on Thursday, reaching $146.08. The company’s stock had a trading volume of 2,415,998 shares, compared to its average volume of 7,823,014. The firm has a market cap of $267.17 billion, a PE ratio of 13.42, a PEG ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The business’s 50-day moving average price is $153.21 and its two-hundred day moving average price is $155.89. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.08 earnings per share. Equities research analysts anticipate that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.