D.B. Root & Company LLC Sells 1,696 Shares of Chevron Co. (NYSE:CVX)

D.B. Root & Company LLC lowered its position in Chevron Co. (NYSE:CVX) by 22.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,817 shares of the oil and gas company’s stock after selling 1,696 shares during the period. D.B. Root & Company LLC’s holdings in Chevron were worth $857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors lifted its stake in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted its stake in Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the last quarter. Capital International Investors raised its stake in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Performance

Shares of CVX stock opened at $157.65 on Thursday. The company’s 50 day moving average is $147.43 and its 200 day moving average is $152.90. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market cap of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm 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 business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is presently 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.