Frazier Financial Advisors LLC Sells 272 Shares of Chevron Co. (NYSE:CVX)

Frazier Financial Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 25.8% during the third quarter, Holdings Channel.com reports. The firm owned 781 shares of the oil and gas company’s stock after selling 272 shares during the period. Frazier Financial Advisors LLC’s holdings in Chevron were worth $115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new stake in Chevron in the first quarter valued at approximately $566,000. Empowered Funds LLC boosted its stake in Chevron by 5.4% in the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock valued at $67,670,000 after acquiring an additional 22,047 shares in the last quarter. Davis R M Inc. boosted its stake in Chevron by 15.9% in the first quarter. Davis R M Inc. now owns 28,634 shares of the oil and gas company’s stock valued at $4,517,000 after acquiring an additional 3,936 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Chevron by 16.4% in the first quarter. Signature Estate & Investment Advisors LLC now owns 334,778 shares of the oil and gas company’s stock valued at $52,808,000 after acquiring an additional 47,089 shares in the last quarter. Finally, Secured Retirement Advisors LLC boosted its stake in Chevron by 23.8% in the first quarter. Secured Retirement Advisors LLC now owns 11,391 shares of the oil and gas company’s stock valued at $1,797,000 after acquiring an additional 2,193 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.2 %

Shares of Chevron stock opened at $161.42 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a fifty day moving average price of $149.39 and a 200 day moving average price of $152.62. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market cap of $290.09 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09.

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

Chevron Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Mizuho decreased their price target 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. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron 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.