Chevron Co. (NYSE:CVX) Shares Sold by Ignite Planners LLC

Ignite Planners LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,660 shares of the oil and gas company’s stock after selling 1,076 shares during the period. Ignite Planners LLC’s holdings in Chevron were worth $1,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. American Capital Advisory LLC lifted its holdings in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter worth $40,000. Finally, Vima LLC acquired a new stake in shares of Chevron during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

Shares of CVX opened at $151.14 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The stock has a 50-day moving average price of $145.99 and a 200 day moving average price of $154.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market capitalization of $278.55 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Scotiabank cut their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, UBS Group reduced their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $179.00.

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.