B. Riley Wealth Advisors Inc. Sells 25,830 Shares of Chevron Co. (NYSE:CVX)

B. Riley Wealth Advisors Inc. reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 22.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,966 shares of the oil and gas company's stock after selling 25,830 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Chevron were worth $12,950,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock valued at $7,218,280,000 after acquiring an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company's stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the period. Pacer Advisors Inc. grew its position in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company's stock worth $562,566,000 after purchasing an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX traded down $0.84 during trading on Friday, hitting $153.87. 5,816,180 shares of the company were exchanged, compared to its average volume of 7,672,936. 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 1-year low of $135.37 and a 1-year high of $167.11. The company has a market capitalization of $276.52 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10. The business's 50 day moving average is $155.35 and its 200-day moving average is $152.38.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company earned $3.05 earnings per share. Equities analysts forecast that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Monday, November 18th. Chevron's payout ratio is 71.65%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVX shares. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and raised their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target for the company. Finally, UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and a consensus target price of $177.13.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company's stock.

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.