Chevron Co. (NYSE:CVX) Shares Sold by City Holding Co.

City Holding Co. trimmed its position in Chevron Co. (NYSE:CVX) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,233 shares of the oil and gas company’s stock after selling 253 shares during the period. City Holding Co.’s holdings in Chevron were worth $5,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the period. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% in the second 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 period. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. Finally, Vima LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $44,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on CVX shares. Truist Financial lowered their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. UBS Group increased their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Stock Performance

CVX opened at $148.76 on Wednesday. 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 firm has a market cap of $274.16 billion, a PE ratio of 13.69, a P/E/G ratio of 2.72 and a beta of 1.09. The business has a fifty day simple moving average of $145.88 and a 200-day simple moving average of $154.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

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 analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. Chevron’s payout ratio is 59.98%.

About Chevron

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.