McGlone Suttner Wealth Management Inc. Sells 2,488 Shares of Chevron Co. (NYSE:CVX)

McGlone Suttner Wealth Management Inc. reduced its position in shares of Chevron Co. (NYSE:CVX) by 29.2% in the third quarter, Holdings Channel reports. The fund owned 6,022 shares of the oil and gas company’s stock after selling 2,488 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Chevron were worth $887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. lifted its position in Chevron by 15,542.0% in the second 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 last quarter. Global Assets Advisory LLC bought a new stake in Chevron in the first quarter worth $156,482,000. Confluence Investment Management LLC bought a new stake in Chevron in the first quarter worth $123,681,000. Finally, Capital International Investors lifted its position in 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 buying an additional 743,042 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.5 %

NYSE CVX traded up $0.80 during trading on Friday, hitting $151.42. The company’s stock had a trading volume of 5,051,314 shares, compared to its average volume of 7,765,251. 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 company has a market cap of $276.94 billion, a PE ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09. The business’s 50 day simple moving average is $145.46 and its 200-day simple moving average is $153.95. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business posted $3.08 EPS. Chevron’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 64.55%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Barclays cut their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.