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

Parthenon LLC lessened its stake in Chevron Co. (NYSE:CVX) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,932 shares of the oil and gas company’s stock after selling 473 shares during the period. Parthenon LLC’s holdings in Chevron were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Main Street Financial Solutions LLC boosted its stake in shares of Chevron by 6.4% during the second quarter. Main Street Financial Solutions LLC now owns 21,869 shares of the oil and gas company’s stock worth $3,421,000 after buying an additional 1,320 shares during the period. Vest Financial LLC boosted its stake in shares of Chevron by 4.4% during the second quarter. Vest Financial LLC now owns 286,785 shares of the oil and gas company’s stock worth $44,859,000 after buying an additional 11,986 shares during the period. Private Wealth Partners LLC boosted its stake in shares of Chevron by 3.8% during the second quarter. Private Wealth Partners LLC now owns 210,314 shares of the oil and gas company’s stock worth $32,897,000 after buying an additional 7,779 shares during the period. Trueblood Wealth Management LLC boosted its stake in shares of Chevron by 1.3% during the second quarter. Trueblood Wealth Management LLC now owns 17,720 shares of the oil and gas company’s stock worth $2,772,000 after buying an additional 232 shares during the period. Finally, Wambolt & Associates LLC boosted its stake in shares of Chevron by 6.4% during the second quarter. Wambolt & Associates LLC now owns 11,011 shares of the oil and gas company’s stock worth $1,723,000 after buying an additional 660 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVX shares. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial cut their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank cut their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Sanford C. Bernstein cut shares of 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 report on Wednesday, July 17th. Finally, Royal Bank of Canada dropped their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Up 1.0 %

Shares of CVX opened at $139.22 on Friday. 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 50 day simple moving average of $149.40 and a 200-day simple moving average of $154.81. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The stock has a market cap of $254.62 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 2.37 and a beta of 1.09.

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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business posted $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 11.63 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.68%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.