Avior Wealth Management LLC Trims Position in Chevron Co. (NYSE:CVX)

Avior Wealth Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,117 shares of the oil and gas company’s stock after selling 1,257 shares during the quarter. Avior Wealth Management LLC’s holdings in Chevron were worth $3,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Wulff Hansen & CO. increased its stake in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares during the period. Finally, Capital International Investors lifted its stake in shares of Chevron by 5.9% in 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 in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.7 %

CVX opened at $159.61 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s fifty day moving average is $150.23 and its 200-day moving average is $152.57. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $286.83 billion, a PE ratio of 17.54, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. UBS Group increased their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.