Cedar Wealth Management LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Cedar Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 56.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,407 shares of the oil and gas company’s stock after acquiring an additional 1,599 shares during the quarter. Cedar Wealth Management LLC’s holdings in Chevron were worth $649,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $29,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Chevron in the third quarter worth $47,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron in the third quarter worth $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.7 %

Chevron stock 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. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a 50-day simple moving average of $150.23 and a 200-day simple moving average of $152.57. The firm has a market capitalization of $286.83 billion, a P/E ratio of 17.54, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.05 EPS. As a group, equities analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group lifted their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

About Chevron

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.