Zhang Financial LLC Has $469,000 Position in Chevron Co. (NYSE:CVX)

Zhang Financial LLC trimmed its position in Chevron Co. (NYSE:CVX) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,184 shares of the oil and gas company’s stock after selling 183 shares during the quarter. Zhang Financial LLC’s holdings in Chevron were worth $469,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC increased its position 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 acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new position in shares of Chevron during the first quarter worth approximately $345,000. KCM Investment Advisors LLC increased its holdings in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares during the period. Hosking Partners LLP acquired a new stake in shares of Chevron in the first quarter valued at approximately $4,924,000. Finally, Garner Asset Management Corp boosted its stake in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 2.7 %

Shares of NYSE CVX opened at $147.73 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 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 cap of $272.26 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a 50 day simple moving average of $145.70 and a 200 day simple moving average of $153.82.

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

Chevron Announces Dividend

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. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVX shares. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Truist Financial reduced their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.