Bard Financial Services Inc. Has $9.21 Million Holdings in Chevron Co. (NYSE:CVX)

Bard Financial Services Inc. reduced its position in Chevron Co. (NYSE:CVX) by 14.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 62,535 shares of the oil and gas company’s stock after selling 10,235 shares during the quarter. Chevron makes up about 1.1% of Bard Financial Services Inc.’s investment portfolio, making the stock its 25th largest holding. Bard Financial Services Inc.’s holdings in Chevron were worth $9,210,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $31,000. Finally, Anfield Capital Management LLC increased its holdings 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 valued at $34,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Royal Bank of Canada raised their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company raised their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, UBS Group raised their target price on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.13.

Chevron Price Performance

Chevron stock opened at $157.63 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $283.28 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.10. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a 50 day simple moving average of $154.97 and a 200 day simple moving average of $152.42.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $3.05 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.54 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is 71.65%.

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.