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

Nvest Financial LLC trimmed its position in Chevron Co. (NYSE:CVX) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,133 shares of the oil and gas company’s stock after selling 234 shares during the quarter. Chevron comprises 1.4% of Nvest Financial LLC’s holdings, making the stock its 20th largest position. Nvest Financial LLC’s holdings in Chevron were worth $2,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Eagle Capital Management LLC lifted its stake in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new position in Chevron in the 1st quarter worth about $345,000. KCM Investment Advisors LLC boosted its position in 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 in the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron during the fourth quarter worth approximately $46,000. Finally, Hosking Partners LLP acquired a new stake in Chevron in the first quarter valued at approximately $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVX shares. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday. 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, Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $177.59.

Chevron Price Performance

CVX traded up $1.03 during midday trading on Friday, reaching $151.65. 1,900,809 shares of the company’s stock were exchanged, compared to its average volume of 7,749,275. The business’s 50-day moving average price is $145.41 and its 200 day moving average price is $153.99. The stock has a market capitalization of $277.36 billion, a PE ratio of 15.03, a P/E/G ratio of 2.70 and a beta of 1.09. 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.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. As a group, equities analysts anticipate that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 4.30%. Chevron’s dividend payout ratio (DPR) is 64.55%.

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.