ROI Financial Advisors LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

ROI Financial Advisors LLC cut its stake in Chevron Co. (NYSE:CVX) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,140 shares of the oil and gas company’s stock after selling 192 shares during the quarter. ROI Financial Advisors LLC’s holdings in Chevron were worth $462,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Chevron in the 3rd quarter valued at $47,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $158.69 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $148.18 and its two-hundred day moving average is $152.61. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market capitalization of $285.18 billion, a PE ratio of 17.44, a P/E/G ratio of 3.49 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 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 the consensus estimate of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given 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 4.11%. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial raised their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron presently 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.