Rakuten Securities Inc. Lowers Position in Chevron Co. (NYSE:CVX)

Rakuten Securities Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 8.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,633 shares of the oil and gas company’s stock after selling 160 shares during the period. Rakuten Securities Inc.’s holdings in Chevron were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth about $29,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring 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 valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron in the third quarter worth about $47,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron during the third quarter worth approximately $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.2 %

Shares of CVX stock opened at $156.55 on Tuesday. The stock’s fifty day moving average price is $147.97 and its 200 day moving average price is $152.68. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $286.31 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 4.16%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

About Chevron

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.