Kings Path Partners LLC Sells 103 Shares of Chevron Co. (NYSE:CVX)

Kings Path Partners LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,080 shares of the oil and gas company’s stock after selling 103 shares during the quarter. Kings Path Partners LLC’s holdings in Chevron were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. American Capital Advisory LLC boosted its stake in shares of Chevron by 403.2% during 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 grew its holdings in 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 acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its position in 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 acquiring an additional 100 shares during the period. Cooksen Wealth LLC acquired a new position in shares of Chevron during the fourth quarter worth $40,000. Finally, Vima LLC bought a new stake in shares of Chevron in the fourth quarter worth $44,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $151.42 on Friday. The business has a 50-day simple moving average of $145.46 and a 200 day simple moving average of $153.95. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $276.94 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.81.

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.