Chevron Co. (NYSE:CVX) Shares Sold by Essex LLC

Essex LLC cut its position in Chevron Co. (NYSE:CVX) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,322 shares of the oil and gas company’s stock after selling 141 shares during the period. Essex LLC’s holdings in Chevron were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Anfield Capital Management LLC lifted 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 buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $47,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron during the first quarter worth approximately $55,000. Finally, Richardson Capital Management LLC acquired a new position in Chevron in the first quarter valued at approximately $58,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock opened at $150.75 on Friday. 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 business has a 50 day simple moving average of $146.07 and a 200-day simple moving average of $153.66. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The stock has a market capitalization of $277.83 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial decreased their price objective 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. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

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.