Zions Bancorporation N.A. Sells 2,734 Shares of Chevron Co. (NYSE:CVX)

Zions Bancorporation N.A. reduced its stake in Chevron Co. (NYSE:CVX) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,318 shares of the oil and gas company’s stock after selling 2,734 shares during the period. Zions Bancorporation N.A.’s holdings in Chevron were worth $6,674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at $29,000. Anfield Capital Management LLC increased its holdings in 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 acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Chevron in the 3rd quarter worth about $47,000. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $47,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVX shares. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. UBS Group boosted their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Price Performance

Chevron stock opened at $158.69 on Thursday. The stock has a market cap of $285.18 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 3.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a 50-day moving average of $148.51 and a two-hundred day moving average of $152.65.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.05 EPS. On average, research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given 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 4.11%. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.