LongView Wealth Management Cuts Stock Position in Chevron Co. (NYSE:CVX)

LongView Wealth Management lowered its stake in Chevron Co. (NYSE:CVX) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,677 shares of the oil and gas company’s stock after selling 628 shares during the period. LongView Wealth Management’s holdings in Chevron were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Studio Investment Management LLC boosted its stake in Chevron by 5.6% during the 4th quarter. Studio Investment Management LLC now owns 21,243 shares of the oil and gas company’s stock valued at $3,169,000 after purchasing an additional 1,128 shares during the last quarter. Aspect Partners LLC purchased a new stake in Chevron during the 4th quarter valued at $150,000. Clarity Asset Management Inc. purchased a new stake in Chevron during the 4th quarter valued at $168,000. CMG Global Holdings LLC lifted its holdings in shares of Chevron by 18.9% during the 4th quarter. CMG Global Holdings LLC now owns 21,463 shares of the oil and gas company’s stock valued at $3,315,000 after buying an additional 3,410 shares during the period. Finally, Sanibel Captiva Trust Company Inc. bought a new position in shares of Chevron during the 4th quarter valued at $20,308,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

CVX opened at $151.42 on Friday. The firm has a market cap of $276.94 billion, a P/E ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $145.46 and a 200 day moving average of $153.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is currently 64.55%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Barclays lowered their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.59.

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.