Marks Group Wealth Management Inc Sells 101 Shares of Chevron Co. (NYSE:CVX)

Marks Group Wealth Management Inc cut its holdings in shares of Chevron Co. (NYSE:CVX) by 4.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,003 shares of the oil and gas company’s stock after selling 101 shares during the period. Marks Group Wealth Management Inc’s holdings in Chevron were worth $295,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Montz Harcus Wealth Management LLC grew its stake in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its stake in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC lifted its stake in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its holdings in Chevron by 1.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 68 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $157.65 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a market cap of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. The stock has a fifty day moving average price of $147.43 and a 200-day moving average price of $152.90.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the company posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Truist Financial upped their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday. UBS Group increased their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.