Axxcess Wealth Management LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Axxcess Wealth Management LLC lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 33.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,717 shares of the oil and gas company's stock after selling 35,333 shares during the quarter. Axxcess Wealth Management LLC's holdings in Chevron were worth $10,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Gilbert & Cook Inc. increased its position in Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company's stock valued at $1,538,000 after buying an additional 369 shares in the last quarter. Aveo Capital Partners LLC grew its position in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company's stock valued at $1,285,000 after purchasing an additional 82 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company's stock worth $1,648,000 after acquiring an additional 4,047 shares during the last quarter. Brown Advisory Inc. boosted its stake in Chevron by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 203,559 shares of the oil and gas company's stock valued at $30,363,000 after purchasing an additional 2,936 shares during the last quarter. Finally, TrinityPoint Wealth LLC raised its stake in shares of Chevron by 6.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company's stock worth $1,588,000 after purchasing an additional 680 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVX shares. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a "peer perform" rating for the company. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a "hold" rating for the company in a report on Monday, August 5th. Barclays dropped their target price on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.88.

Chevron Price Performance

CVX stock traded up $1.37 during trading on Tuesday, hitting $143.46. 7,327,952 shares of the company's stock traded hands, compared to its average volume of 7,767,729. The business has a fifty day simple moving average of $148.69 and a 200 day simple moving average of $154.61. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $262.38 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released 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 company's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 EPS. As a group, research analysts expect that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.54%. Chevron's payout ratio is 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.