Chevron Co. (NYSE:CVX) Shares Sold by Country Club Bank

Country Club Bank trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 104,778 shares of the oil and gas company’s stock after selling 1,040 shares during the period. Chevron makes up 1.0% of Country Club Bank’s investment portfolio, making the stock its 21st biggest position. Country Club Bank’s holdings in Chevron were worth $15,244,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after acquiring an additional 4,876,260 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after acquiring an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. boosted its position in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares in the last quarter. Capital International Investors boosted its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Chevron by 38.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock worth $382,448,000 after acquiring an additional 681,394 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Up 0.2 %

CVX opened at $150.81 on Friday. The business has a 50 day moving average price of $146.59 and a two-hundred day moving average price of $153.30. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $277.94 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $3.08 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. 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.