GEM Asset Management LLC Has $316,000 Stock Position in Chevron Co. (NYSE:CVX)

GEM Asset Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 8.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,093 shares of the oil and gas company’s stock after selling 200 shares during the period. GEM Asset Management LLC’s holdings in Chevron were worth $316,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CVX. American Capital Advisory LLC raised its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in 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. Cooksen Wealth LLC bought a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Vima LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $44,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. UBS Group upped their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.59.

Chevron Price Performance

CVX stock opened at $150.59 on Friday. 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’s fifty day simple moving average is $145.45 and its 200 day simple moving average is $154.02. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The firm has a market cap of $275.42 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last issued 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 business 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%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $3.08 earnings per share. On average, analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

About Chevron

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.