Chevron Co. (NYSE:CVX) Shares Sold by Great Diamond Partners LLC

Great Diamond Partners LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 41.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,203 shares of the oil and gas company’s stock after selling 1,546 shares during the quarter. Great Diamond Partners LLC’s holdings in Chevron were worth $324,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Stewart & Patten Co. LLC grew its holdings in shares of Chevron by 0.4% during the first quarter. Stewart & Patten Co. LLC now owns 99,187 shares of the oil and gas company’s stock valued at $15,646,000 after buying an additional 401 shares during the last quarter. Tributary Capital Management LLC acquired a new position in shares of Chevron in the first quarter valued at about $77,000. Eagle Capital Management LLC raised its stake in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. tru Independence LLC acquired a new stake in shares of Chevron during the first quarter worth about $5,166,000. Finally, Iams Wealth Management LLC boosted its position in Chevron by 16.9% in the first quarter. Iams Wealth Management LLC now owns 11,801 shares of the oil and gas company’s stock valued at $1,798,000 after buying an additional 1,702 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial decreased their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Barclays dropped their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Down 0.3 %

Shares of NYSE CVX opened at $148.06 on Thursday. The firm has a market cap of $270.79 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company’s 50-day simple moving average is $146.79 and its 200-day simple moving average is $153.04. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 10.86 EPS for the current fiscal 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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.40%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Chevron 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.