Dopkins Wealth Management LLC Has $471,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Dopkins Wealth Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 11.0% during the third quarter, Holdings Channel.com reports. The fund owned 3,200 shares of the oil and gas company’s stock after selling 395 shares during the period. Chevron makes up about 0.4% of Dopkins Wealth Management LLC’s portfolio, making the stock its 29th biggest position. Dopkins Wealth Management LLC’s holdings in Chevron were worth $471,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marietta Wealth Management LLC lifted its stake in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC increased its holdings in Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares in the last quarter. Garner Asset Management Corp increased its holdings in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares in the last quarter. RPG Investment Advisory LLC increased its holdings in Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Chevron by 3.2% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after purchasing an additional 3,561 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial boosted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Up 2.2 %

Shares of Chevron stock opened at $158.69 on Thursday. The stock has a fifty day simple moving average of $148.18 and a 200 day simple moving average of $152.61. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market capitalization of $285.18 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 3.49 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly 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 return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company posted $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.11%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.