Prospect Financial Services LLC Sells 200 Shares of Chevron Co. (NYSE:CVX)

Prospect Financial Services LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,252 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Prospect Financial Services LLC’s holdings in Chevron were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Scarborough Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at approximately $98,000. Campbell Capital Management Inc. grew its position in Chevron by 12.1% in the first quarter. Campbell Capital Management Inc. now owns 32,551 shares of the oil and gas company’s stock valued at $5,135,000 after acquiring an additional 3,521 shares during the period. GoalFusion Wealth Management LLC acquired a new position in Chevron during the first quarter worth $207,000. Cullen Investment Group LTD. lifted its holdings in shares of Chevron by 22.6% during the first quarter. Cullen Investment Group LTD. now owns 33,985 shares of the oil and gas company’s stock valued at $5,430,000 after acquiring an additional 6,257 shares during the period. Finally, S. R. Schill & Associates boosted its stake in shares of Chevron by 9.4% in the 1st quarter. S. R. Schill & Associates now owns 8,440 shares of the oil and gas company’s stock valued at $1,331,000 after purchasing an additional 728 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $147.73 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The stock has a market capitalization of $272.26 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.72 and a beta of 1.09. The business has a 50-day moving average price of $145.70 and a two-hundred day moving average price of $153.82.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the firm earned $3.08 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared 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 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.81.

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.