RBA Wealth Management LLC Has $1.42 Million Stake in Chevron Co. (NYSE:CVX)

RBA Wealth Management LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,653 shares of the oil and gas company’s stock after selling 406 shares during the quarter. RBA Wealth Management LLC’s holdings in Chevron were worth $1,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Leo Wealth LLC raised its position in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Hofer & Associates. Inc raised its position in shares of Chevron by 9.1% in the 3rd quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 138 shares in the last quarter. Pegasus Asset Management Inc. raised its position in shares of Chevron by 0.6% in the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock valued at $4,246,000 after buying an additional 169 shares in the last quarter. Eastern Bank raised its position in shares of Chevron by 82.2% in the 3rd quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock valued at $37,845,000 after buying an additional 115,927 shares in the last quarter. Finally, Xcel Wealth Management LLC raised its position in shares of Chevron by 3.3% in the 3rd quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 131 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.0 %

CVX opened at $150.92 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $278.14 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.73 and a beta of 1.09. The company’s 50 day moving average price is $146.32 and its two-hundred day moving average price is $153.47.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.