Rather & Kittrell Inc. Trims Position in Chevron Co. (NYSE:CVX)

Rather & Kittrell Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,405 shares of the oil and gas company’s stock after selling 1,265 shares during the period. Rather & Kittrell Inc.’s holdings in Chevron were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC increased its position in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. increased its position in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four research 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 an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Performance

Shares of CVX opened at $156.95 on Friday. The stock has a market capitalization of $287.05 billion, a PE ratio of 17.25, a PEG ratio of 3.53 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 stock has a 50-day simple moving average of $147.80 and a 200-day simple moving average of $152.89.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.05 earnings per share. On average, analysts predict that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.