Chevron Co. (NYSE:CVX) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,620 shares of the oil and gas company's stock after selling 21,777 shares during the quarter. AE Wealth Management LLC's holdings in Chevron were worth $51,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Bank of New York Mellon Corp grew its position in Chevron by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company's stock worth $2,540,135,000 after purchasing an additional 654,482 shares during the last quarter. Capital World Investors boosted its holdings in shares of Chevron by 3.2% in the first 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 acquiring an additional 495,879 shares in the last quarter. Capital International Investors boosted its holdings in shares of 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 acquiring 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 acquiring an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Chevron from $192.00 to $189.00 and set a "buy" rating for the company in a research note on Wednesday. Sanford C. Bernstein cut shares of Chevron from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research report on Monday. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Finally, Scotiabank lowered their target price on shares of Chevron from $195.00 to $180.00 and set a "sector outperform" rating for the company in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.41.

Chevron Stock Up 0.3 %

Shares of NYSE CVX traded up $0.48 during trading on Friday, reaching $145.47. 5,486,179 shares of the stock were exchanged, compared to its average volume of 7,742,129. The business's 50-day moving average price is $148.26 and its 200 day moving average price is $154.47. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $268.10 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 yield of 4.48%. Chevron's dividend payout ratio is presently 59.98%.

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.