Chevron Co. (NYSE:CVX) Shares Sold by Exchange Bank

by · The Markets Daily

Exchange Bank trimmed its stake in Chevron Co. (NYSE:CVX – Free Report) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,750 shares of the oil and gas company’s stock after selling 83 shares during the quarter. Chevron makes up about 2.9% of Exchange Bank’s portfolio, making the stock its 9th biggest holding. Exchange Bank’s holdings in Chevron were worth $3,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Eagle Capital Management LLC grew its holdings in Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new position in shares of Chevron during the 1st quarter worth approximately $345,000. KCM Investment Advisors LLC raised its stake in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the period. Livelsberger Financial Advisory acquired a new stake in Chevron during the 4th quarter valued at $46,000. Finally, Hosking Partners LLP bought a new position in Chevron during the first quarter worth $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $151.42 on Friday. The company’s 50-day moving average price is $145.46 and its two-hundred day moving average price is $153.95. The firm has a market cap of $276.94 billion, a P/E ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business earned $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio (DPR) is currently 64.55%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CVX shares. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $176.81.

Check Out Our Latest Stock Analysis on Chevron

About Chevron

(Free Report)

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.

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