Catalyst Financial Partners LLC Sells 636 Shares of Chevron Co. (NYSE:CVX)

Catalyst Financial Partners LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,710 shares of the oil and gas company’s stock after selling 636 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Chevron were worth $1,135,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CVX. Tevis Investment Management grew its position in shares of Chevron by 13.7% during the 3rd quarter. Tevis Investment Management now owns 11,647 shares of the oil and gas company’s stock worth $1,715,000 after purchasing an additional 1,404 shares in the last quarter. Goldstone Financial Group LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $605,000. Voisard Asset Management Group Inc. boosted its stake in shares of Chevron by 11.9% in the third quarter. Voisard Asset Management Group Inc. now owns 1,850 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 196 shares during the period. S.A. Mason LLC grew its position in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares in the last quarter. Finally, Solidarity Wealth LLC increased its stake in Chevron by 4.1% during the 3rd quarter. Solidarity Wealth LLC now owns 4,017 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 160 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Mizuho reduced their price objective 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. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Price Performance

Chevron stock opened at $148.06 on Thursday. The company has a market capitalization of $270.79 billion, a PE ratio of 14.66, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $146.79 and a two-hundred day moving average price of $153.04. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 earnings per share. Analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 64.55%.

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.