Leisure Capital Management Sells 1,056 Shares of Chevron Co. (NYSE:CVX)

Leisure Capital Management lowered its stake in shares of Chevron Co. (NYSE:CVX) by 25.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,152 shares of the oil and gas company’s stock after selling 1,056 shares during the quarter. Leisure Capital Management’s holdings in Chevron were worth $464,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. raised its stake in shares of Chevron by 1.9% in the third quarter. McKinley Carter Wealth Services Inc. now owns 21,121 shares of the oil and gas company’s stock valued at $3,110,000 after purchasing an additional 401 shares in the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Chevron by 2.5% in the third quarter. Sumitomo Life Insurance Co. now owns 27,652 shares of the oil and gas company’s stock valued at $4,072,000 after purchasing an additional 667 shares in the last quarter. Sunpointe LLC raised its stake in shares of Chevron by 6.3% in the third quarter. Sunpointe LLC now owns 3,177 shares of the oil and gas company’s stock valued at $468,000 after purchasing an additional 189 shares in the last quarter. Stableford Capital II LLC raised its stake in shares of Chevron by 8.1% in the third quarter. Stableford Capital II LLC now owns 7,486 shares of the oil and gas company’s stock valued at $1,134,000 after purchasing an additional 564 shares in the last quarter. Finally, Proquility Private Wealth Partners LLC raised its stake in shares of Chevron by 15.5% in the third quarter. Proquility Private Wealth Partners LLC now owns 13,759 shares of the oil and gas company’s stock valued at $2,026,000 after purchasing an additional 1,847 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVX shares. Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.81.

Chevron Price Performance

Shares of CVX opened at $148.69 on Thursday. 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 $145.82 and a 200 day simple moving average of $153.78. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The firm has a market capitalization 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 (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during 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 company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.08 EPS. Sell-side analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.