SeaCrest Wealth Management LLC Sells 430 Shares of Chevron Co. (NYSE:CVX)

SeaCrest Wealth Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,311 shares of the oil and gas company’s stock after selling 430 shares during the quarter. Chevron accounts for about 0.6% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 21st largest position. SeaCrest Wealth Management LLC’s holdings in Chevron were worth $5,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stableford Capital II LLC raised its position in Chevron by 8.1% in the third quarter. Stableford Capital II LLC now owns 7,486 shares of the oil and gas company’s stock valued at $1,134,000 after purchasing an additional 564 shares during the last quarter. Proquility Private Wealth Partners LLC increased its stake in shares of Chevron by 15.5% in the third quarter. Proquility Private Wealth Partners LLC now owns 13,759 shares of the oil and gas company’s stock valued at $2,026,000 after buying an additional 1,847 shares during the period. Safeguard Financial LLC raised its holdings in Chevron by 14.7% in the 3rd quarter. Safeguard Financial LLC now owns 2,726 shares of the oil and gas company’s stock valued at $401,000 after buying an additional 349 shares during the last quarter. Tsfg LLC boosted its position in Chevron by 6.7% during the 3rd quarter. Tsfg LLC now owns 3,327 shares of the oil and gas company’s stock worth $490,000 after buying an additional 208 shares during the period. Finally, Nexus Investment Management ULC grew its holdings in Chevron by 9.0% during the 3rd quarter. Nexus Investment Management ULC now owns 6,650 shares of the oil and gas company’s stock worth $979,000 after acquiring an additional 550 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX opened at $148.55 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a market cap of $273.77 billion, a PE ratio of 13.59, a P/E/G ratio of 2.72 and a beta of 1.09. The stock has a 50-day moving average of $145.70 and a 200-day moving average of $153.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business posted $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.39%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Truist Financial reduced their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $176.81.

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.