EverSource Wealth Advisors LLC Sells 5,403 Shares of Chevron Co. (NYSE:CVX)

EverSource Wealth Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,246 shares of the oil and gas company's stock after selling 5,403 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Chevron were worth $9,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Ameriprise Financial Inc. increased its holdings in shares of Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors increased its position in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after buying an additional 495,879 shares in the last quarter. Legal & General Group Plc raised its position in shares of Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the period. Capital International Investors lifted its stake in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock valued at $2,116,600,000 after buying an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock valued at $2,036,846,000 after buying an additional 126,889 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Chevron Stock Performance

CVX stock traded up $1.70 during midday trading on Wednesday, reaching $161.30. 6,390,683 shares of the company were exchanged, compared to its average volume of 7,651,631. The firm has a market capitalization of $289.87 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The business has a 50-day moving average price of $150.70 and a two-hundred day moving average price of $152.63. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business's revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.05 EPS. Equities research analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVX shares. Truist Financial boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. UBS Group lifted their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, Mizuho reduced their target price 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. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.