Teamwork Financial Advisors LLC Reduces Stock Position in Chevron Co. (NYSE:CVX)

Teamwork Financial Advisors LLC decreased its position in Chevron Co. (NYSE:CVX) by 13.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,264 shares of the oil and gas company’s stock after selling 510 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Chevron were worth $481,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron in the first quarter valued at $55,000. Richardson Capital Management LLC purchased a new position in Chevron during the 1st quarter valued at $58,000. Finally, MFA Wealth Advisors LLC bought a new position in Chevron in the 2nd quarter worth $59,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.7 %

Shares of Chevron stock opened at $151.19 on Friday. The stock has a market capitalization of $276.51 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.74 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. The company has a 50-day simple moving average of $145.96 and a two-hundred day simple moving average of $153.76. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business posted $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a 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 Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Company 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.