Chevron Co. (NYSE:CVX) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its position in Chevron Co. (NYSE:CVX) by 1.3% during the second quarter, HoldingsChannel.com reports. The fund owned 1,999,218 shares of the oil and gas company’s stock after selling 26,269 shares during the quarter. Clearbridge Investments LLC’s holdings in Chevron were worth $312,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC grew its holdings in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares during the period. Montz Harcus Wealth Management LLC grew its holdings in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC grew its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the period. Finally, Marks Group Wealth Management Inc grew its holdings in shares of Chevron by 3.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Scotiabank lowered their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, UBS Group reduced their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.00.

Chevron Stock Up 1.2 %

Shares of Chevron stock opened at $147.27 on Tuesday. The business has a 50-day moving average of $146.43 and a 200-day moving average of $154.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $271.41 billion, a PE ratio of 13.55, a P/E/G ratio of 2.68 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is 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.