Chevron Co. (NYSE:CVX) Shares Sold by SPC Financial Inc.

SPC Financial Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,476 shares of the oil and gas company’s stock after selling 195 shares during the quarter. SPC Financial Inc.’s holdings in Chevron were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron during the first quarter worth $55,000. Richardson Capital Management LLC bought a new position in shares of Chevron in the 1st quarter worth about $58,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Chevron in the 2nd quarter valued at about $59,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. UBS Group boosted their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Truist Financial reduced their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $176.81.

Chevron Stock Up 0.6 %

CVX stock opened at $148.69 on Thursday. The firm has a market cap of $274.03 billion, a PE ratio of 13.68, a P/E/G ratio of 2.72 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month 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. The firm has a 50 day simple moving average of $145.82 and a 200 day simple moving average of $153.78.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.38%. Chevron’s payout ratio is presently 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.