Chevron Co. (NYSE:CVX) Shares Sold by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 52.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,763 shares of the oil and gas company’s stock after selling 1,938 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Chevron were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter valued at $29,000. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the 3rd quarter worth about $31,000. Finally, Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.2 %

Shares of NYSE:CVX opened at $157.13 on Tuesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $282.37 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 3.43 and a beta of 1.10. The firm has a 50 day simple moving average of $154.97 and a 200 day simple moving average of $152.42.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value 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. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CVX. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.

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.