Financial Partners Group Inc Sells 313 Shares of Chevron Co. (NYSE:CVX)

Financial Partners Group Inc trimmed its position in shares of Chevron Co. (NYSE:CVX) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,328 shares of the oil and gas company’s stock after selling 313 shares during the quarter. Financial Partners Group Inc’s holdings in Chevron were worth $1,079,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. Ameriprise Financial Inc. lifted its position in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares in the last quarter. Capital World Investors increased its stake in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Capital International Investors increased its stake in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Down 0.0 %

Shares of NYSE:CVX traded down $0.02 during trading hours on Tuesday, reaching $153.95. The stock had a trading volume of 1,208,008 shares, compared to its average volume of 7,626,131. 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 firm’s 50 day moving average is $147.07 and its 200-day moving average is $152.91. The stock has a market capitalization of $281.56 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 3.39 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts predict that Chevron Co. will post 10.7 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

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.