Chevron Co. (NYSE:CVX) Stake Trimmed by Nvest Financial LLC

Nvest Financial LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,133 shares of the oil and gas company’s stock after selling 234 shares during the period. Chevron comprises 1.4% of Nvest Financial LLC’s investment portfolio, making the stock its 20th largest holding. Nvest Financial LLC’s holdings in Chevron were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CVX. American Capital Advisory LLC grew its position in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during 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 in the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the fourth quarter worth $40,000. Finally, Vima LLC purchased a new stake in shares of Chevron during the fourth quarter worth $44,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.7 %

Shares of NYSE:CVX traded up $1.03 during trading on Friday, hitting $151.65. 1,900,809 shares of the company’s stock were exchanged, compared to its average volume of 7,749,275. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $277.36 billion, a P/E ratio of 15.03, a PEG ratio of 2.70 and a beta of 1.09. The firm has a 50-day moving average price of $145.41 and a two-hundred day moving average price of $153.99. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.08 EPS. Equities analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.30%. Chevron’s dividend payout ratio is 64.55%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.59.

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.