Spire Wealth Management Trims Stake in Chevron Co. (NYSE:CVX)

Spire Wealth Management trimmed its position in Chevron Co. (NYSE:CVXFree Report) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,489 shares of the oil and gas company’s stock after selling 278 shares during the period. Spire Wealth Management’s holdings in Chevron were worth $4,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the third quarter worth $26,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Chevron in the third quarter worth $35,000. Worth Asset Management LLC purchased a new position in shares of Chevron in the first quarter worth $36,000. Legacy Financial Group LLC purchased a new position in shares of Chevron in the third quarter worth $43,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the second quarter worth $50,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Truist Financial decreased their price target on shares of Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Raymond James reduced their target price on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $190.00 to $200.00 in a report on Monday, October 30th. Finally, Morgan Stanley reduced their target price on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.53.

Read Our Latest Stock Report on CVX

Chevron Stock Up 2.9 %

Shares of NYSE CVX opened at $152.24 on Monday. The company’s 50-day simple moving average is $147.08 and its 200-day simple moving average is $154.74. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $174.39. The firm has a market cap of $287.39 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.82 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Chevron (NYSE:CVXGet Free Report) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the business earned $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 13.08 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 16th will be given a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.28%. Chevron’s dividend payout ratio (DPR) is 53.17%.

Chevron Profile

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.