Chevron Co. (NYSE:CVX) Shares Sold by Salomon & Ludwin LLC

Salomon & Ludwin LLC cut its stake in Chevron Co. (NYSE:CVX) by 29.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,831 shares of the oil and gas company’s stock after selling 1,200 shares during the period. Salomon & Ludwin LLC’s holdings in Chevron were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Financial Bankshares Inc grew its position in shares of Chevron by 0.9% during the third quarter. First Financial Bankshares Inc now owns 618,540 shares of the oil and gas company’s stock worth $91,092,000 after buying an additional 5,653 shares in the last quarter. Motiv8 Investments LLC lifted its stake in Chevron by 16.9% in the third quarter. Motiv8 Investments LLC now owns 6,230 shares of the oil and gas company’s stock worth $917,000 after acquiring an additional 902 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in Chevron by 3.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,456 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 75 shares in the last quarter. Sterling Investment Advisors Ltd. increased its position in shares of Chevron by 11.6% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 24,311 shares of the oil and gas company’s stock valued at $3,580,000 after purchasing an additional 2,519 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in shares of Chevron by 2.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 45,714 shares of the oil and gas company’s stock worth $6,732,000 after purchasing an additional 1,036 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.2 %

Chevron stock opened at $150.81 on Monday. The stock has a market capitalization of $275.82 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 3.29 and a beta of 1.09. 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 $146.59 and a two-hundred day moving average of $153.23. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for 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 for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial dropped their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, UBS Group upped their price objective 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.