Wealth Advisory Solutions LLC Sells 5,513 Shares of Chevron Co. (NYSE:CVX)

Wealth Advisory Solutions LLC cut its holdings in Chevron Co. (NYSE:CVX) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,832 shares of the oil and gas company’s stock after selling 5,513 shares during the period. Chevron makes up 1.9% of Wealth Advisory Solutions LLC’s investment portfolio, making the stock its 13th biggest holding. Wealth Advisory Solutions LLC’s holdings in Chevron were worth $6,750,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Benin Management CORP lifted its position in shares of Chevron by 12.8% in the third quarter. Benin Management CORP now owns 22,560 shares of the oil and gas company’s stock worth $3,322,000 after buying an additional 2,568 shares during the last quarter. Prio Wealth Limited Partnership raised its stake in shares of Chevron by 2.4% in the 3rd quarter. Prio Wealth Limited Partnership now owns 25,521 shares of the oil and gas company’s stock valued at $3,758,000 after acquiring an additional 588 shares in the last quarter. Trilogy Capital Inc. lifted its holdings in Chevron by 2.8% in the 3rd quarter. Trilogy Capital Inc. now owns 21,627 shares of the oil and gas company’s stock worth $3,185,000 after purchasing an additional 599 shares during the last quarter. Gilliland Jeter Wealth Management LLC boosted its position in Chevron by 2.9% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 26,087 shares of the oil and gas company’s stock worth $3,842,000 after purchasing an additional 746 shares during the period. Finally, Violich Capital Management Inc. grew its holdings in Chevron by 0.9% during the third quarter. Violich Capital Management Inc. now owns 77,469 shares of the oil and gas company’s stock valued at $11,409,000 after purchasing an additional 700 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of Chevron stock traded up $0.33 during trading on Monday, hitting $151.08. 1,487,355 shares of the company’s stock traded hands, compared to its average volume of 7,675,783. The company has a market cap of $278.44 billion, a PE ratio of 13.94, a PEG ratio of 2.74 and a beta of 1.09. The firm’s fifty day moving average price is $146.07 and its 200 day moving average price is $153.62. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.08 earnings per share. Analysts forecast that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.32%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. 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. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.