Crestmont Private Wealth LLC Sells 1,071 Shares of Chevron Co. (NYSE:CVX)

Crestmont Private Wealth LLC cut its holdings in Chevron Co. (NYSE:CVX) by 19.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,334 shares of the oil and gas company’s stock after selling 1,071 shares during the period. Chevron comprises approximately 0.3% of Crestmont Private Wealth LLC’s portfolio, making the stock its 24th biggest holding. Crestmont Private Wealth LLC’s holdings in Chevron were worth $638,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Renaissance Investment Group LLC lifted its position in shares of Chevron by 2.6% during the 3rd quarter. Renaissance Investment Group LLC now owns 3,877 shares of the oil and gas company’s stock valued at $571,000 after buying an additional 98 shares during the last quarter. Ballew Advisors Inc raised its position in shares of Chevron by 3.9% in the third quarter. Ballew Advisors Inc now owns 4,822 shares of the oil and gas company’s stock worth $722,000 after buying an additional 183 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in shares of Chevron by 1.0% during the 3rd quarter. CHICAGO TRUST Co NA now owns 33,811 shares of the oil and gas company’s stock valued at $4,979,000 after acquiring an additional 327 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Chevron by 22.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 139,783 shares of the oil and gas company’s stock worth $20,586,000 after buying an additional 26,002 shares in the last quarter. Finally, Compton Wealth Advisory Group LLC raised its position in Chevron by 3.9% during the third quarter. Compton Wealth Advisory Group LLC now owns 15,157 shares of the oil and gas company’s stock valued at $2,232,000 after purchasing an additional 572 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.5 %

Shares of CVX stock opened at $151.42 on Friday. The stock has a fifty day simple moving average of $145.46 and a two-hundred day simple moving average of $153.95. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The firm has a market capitalization of $276.94 billion, a PE ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. On average, analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Truist Financial lowered their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus 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.