Mayfair Advisory Group LLC Sells 270 Shares of Chevron Co. (NYSE:CVX)

Mayfair Advisory Group LLC cut its stake in Chevron Co. (NYSE:CVX) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,048 shares of the oil and gas company’s stock after selling 270 shares during the quarter. Chevron accounts for about 0.9% of Mayfair Advisory Group LLC’s investment portfolio, making the stock its 25th largest holding. Mayfair Advisory Group LLC’s holdings in Chevron were worth $1,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CVX. Signet Investment Advisory Group Inc. lifted its holdings in shares of Chevron by 8.4% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 13,823 shares of the oil and gas company’s stock valued at $2,036,000 after buying an additional 1,066 shares during the period. Convergence Financial LLC lifted its holdings in Chevron by 13.4% in the third quarter. Convergence Financial LLC now owns 9,723 shares of the oil and gas company’s stock valued at $1,432,000 after acquiring an additional 1,149 shares during the period. Pettinga Financial Advisors LLC lifted its holdings in Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares during the period. Mediolanum International Funds Ltd boosted its position in Chevron by 0.3% in the third quarter. Mediolanum International Funds Ltd now owns 183,729 shares of the oil and gas company’s stock worth $26,686,000 after purchasing an additional 529 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL grew its stake in shares of Chevron by 3.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 3,245 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 108 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVX. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Barclays reduced their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Up 0.2 %

Chevron stock opened at $150.81 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s 50 day moving average price is $146.59 and its 200-day moving average price is $153.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market cap of $277.94 billion, a P/E ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 EPS. On average, equities analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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.