Chevron Co. (NYSE:CVX) Holdings Lowered by Seven Mile Advisory

Seven Mile Advisory cut its stake in Chevron Co. (NYSE:CVX) by 18.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,184 shares of the oil and gas company’s stock after selling 499 shares during the period. Seven Mile Advisory’s holdings in Chevron were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVX. American Capital Advisory LLC increased its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new position in Chevron during the fourth quarter valued at about $30,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cooksen Wealth LLC bought a new stake in Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $140.61 on Friday. 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 firm has a market cap of $257.16 billion, a PE ratio of 12.94, a PEG ratio of 2.37 and a beta of 1.09. The firm’s 50 day moving average price is $149.12 and its 200 day moving average price is $154.73. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.08 EPS. As a group, research analysts expect that Chevron Co. will post 11.63 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

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.