Chevron Co. (NYSE:CVX) Shares Sold by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd lowered its position in shares of Chevron Co. (NYSE:CVX) by 3.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 320,165 shares of the oil and gas company’s stock after selling 13,053 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Chevron were worth $47,013,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Eagle Capital Management LLC raised its position in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in shares of Chevron in the first quarter valued at about $345,000. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the period. Hosking Partners LLP acquired a new position in Chevron during the 1st quarter worth approximately $4,924,000. Finally, Garner Asset Management Corp grew its position in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

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

Chevron Trading Up 0.1 %

Shares of Chevron stock traded up $0.20 during trading on Monday, hitting $150.95. The stock had a trading volume of 2,371,014 shares, compared to its average volume of 7,679,878. 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 capitalization of $278.20 billion, a PE ratio of 13.94, a P/E/G ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50 day simple moving average of $146.07 and a 200 day simple moving average of $153.62.

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 the consensus estimate 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 analyst estimates of $48.68 billion. During the same period last year, the firm earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal 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 issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s dividend 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.