Chevron Co. (NYSE:CVX) Shares Sold by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA decreased its position in Chevron Co. (NYSE:CVX) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,632 shares of the oil and gas company’s stock after selling 3,801 shares during the period. Chevron makes up about 2.0% of Spectrum Asset Management Inc. NB CA’s portfolio, making the stock its 14th biggest holding. Spectrum Asset Management Inc. NB CA’s holdings in Chevron were worth $4,806,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its holdings 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 worth $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory purchased a new position in Chevron during the third quarter worth approximately $47,000. Krane Funds Advisors LLC acquired a new stake in Chevron in the third quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron in the first quarter valued at approximately $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $150.46 on Thursday. The company’s 50-day moving average is $146.44 and its two-hundred day moving average is $153.45. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 $277.29 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.73 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 analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.08 earnings per share. Analysts forecast that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Mizuho reduced their price target 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.