Prudent Man Advisors LLC Has $1.21 Million Holdings in Chevron Co. (NYSE:CVX)

Prudent Man Advisors LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,191 shares of the oil and gas company’s stock after selling 176 shares during the period. Prudent Man Advisors LLC’s holdings in Chevron were worth $1,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. TrinityPoint Wealth LLC lifted its holdings in Chevron by 2.8% during the 3rd quarter. TrinityPoint Wealth LLC now owns 13,612 shares of the oil and gas company’s stock valued at $2,005,000 after purchasing an additional 371 shares during the last quarter. Glass Wealth Management Co LLC raised its stake in shares of Chevron by 5.8% in the third quarter. Glass Wealth Management Co LLC now owns 24,929 shares of the oil and gas company’s stock valued at $3,671,000 after acquiring an additional 1,372 shares during the last quarter. Concord Asset Management LLC VA boosted its holdings in shares of Chevron by 8.7% in the 3rd quarter. Concord Asset Management LLC VA now owns 23,279 shares of the oil and gas company’s stock worth $3,428,000 after acquiring an additional 1,871 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Chevron during the 3rd quarter valued at $143,000. Finally, Mechanics Financial Corp boosted its stake in Chevron by 12.0% in the third quarter. Mechanics Financial Corp now owns 12,419 shares of the oil and gas company’s stock worth $1,829,000 after purchasing an additional 1,335 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.2 %

Shares of Chevron stock opened at $161.42 on Monday. The business has a fifty day simple moving average of $149.39 and a 200 day simple moving average of $152.57. 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. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. Research analysts predict that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. DZ Bank raised 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. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Truist Financial increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

About Chevron

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.