Wilkinson Global Asset Management LLC Sells 924 Shares of Chevron Co. (NYSE:CVX)

Wilkinson Global Asset Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,783 shares of the oil and gas company’s stock after selling 924 shares during the quarter. Wilkinson Global Asset Management LLC’s holdings in Chevron were worth $2,472,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CVX. Ameriprise Financial Inc. lifted its position in shares of Chevron by 3.0% in the second 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 buying an additional 501,969 shares during the last quarter. Capital World Investors grew its stake in 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 valued at $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Legal & General Group Plc raised its holdings in 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 valued at $2,122,772,000 after acquiring an additional 629,644 shares during the period. Capital International Investors lifted its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Chevron by 1.0% during the second 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 acquiring an additional 126,889 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $157.65 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market cap of $288.33 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 3.43 and a beta of 1.09. The company has a 50 day simple moving average of $147.43 and a 200 day simple moving average of $152.90.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. Research analysts anticipate that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.14%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.