Chevron Co. (NYSE:CVX) Shares Sold by Harvey Investment Co. LLC

Harvey Investment Co. LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,302 shares of the oil and gas company’s stock after selling 140 shares during the quarter. Harvey Investment Co. LLC’s holdings in Chevron were worth $1,664,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CVX. PSI Advisors LLC boosted its holdings in shares of Chevron by 1.9% in the 3rd quarter. PSI Advisors LLC now owns 12,946 shares of the oil and gas company’s stock valued at $1,907,000 after buying an additional 243 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its position in Chevron by 1.8% in the third quarter. Asset Planning Services Inc. LA ADV now owns 43,765 shares of the oil and gas company’s stock valued at $6,445,000 after acquiring an additional 775 shares during the last quarter. Boyd Watterson Asset Management LLC OH lifted its position in Chevron by 1.5% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 18,973 shares of the oil and gas company’s stock valued at $2,794,000 after acquiring an additional 281 shares during the last quarter. Greystone Financial Group LLC boosted its stake in Chevron by 2.5% in the third quarter. Greystone Financial Group LLC now owns 54,676 shares of the oil and gas company’s stock valued at $8,052,000 after acquiring an additional 1,348 shares in the last quarter. Finally, Keene & Associates Inc. grew its holdings in shares of Chevron by 2.0% during the third quarter. Keene & Associates Inc. now owns 18,052 shares of the oil and gas company’s stock worth $2,659,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CVX shares. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. UBS Group raised their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Chevron stock opened at $150.46 on Friday. The company has a market cap of $275.18 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a fifty day moving average of $146.44 and a two-hundred day moving average of $153.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced 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 during 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 EPS. As a group, analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 64.55%.

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.