Graypoint LLC Sells 3,636 Shares of Chevron Co. (NYSE:CVX)

Graypoint LLC lessened its position in Chevron Co. (NYSE:CVX) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,408 shares of the oil and gas company’s stock after selling 3,636 shares during the quarter. Graypoint LLC’s holdings in Chevron were worth $3,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors increased its position in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its position in shares of Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares during the period. Capital International Investors lifted its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Up 2.8 %

NYSE:CVX opened at $157.65 on Thursday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company’s 50-day simple moving average is $147.43 and its 200-day simple moving average is $152.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $288.33 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. Chevron’s payout ratio is 71.65%.

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.