Guidance Capital Inc. Lowers Stock Position in Chevron Co. (NYSE:CVX)

Guidance Capital Inc. reduced its position in shares of Chevron Co. (NYSE:CVX) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,694 shares of the oil and gas company’s stock after selling 1,128 shares during the period. Guidance Capital Inc.’s holdings in Chevron were worth $406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC raised its stake 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 worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% during the second 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. Krane Funds Advisors LLC purchased a new stake in Chevron during the third quarter worth about $47,000. Livelsberger Financial Advisory purchased a new position in Chevron in the third quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron during the 1st quarter valued at approximately $55,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. UBS Group upped their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

Shares of Chevron stock opened at $150.46 on Thursday. The stock has a market cap of $277.29 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. 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 firm’s 50-day moving average is $146.44 and its 200 day moving average is $153.45. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during 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 revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.08 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.