Chevron Co. (NYSE:CVX) Shares Sold by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,048 shares of the oil and gas company’s stock after selling 169 shares during the quarter. Chevron makes up about 0.7% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 28th biggest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Chevron were worth $3,394,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in Chevron in the 1st quarter valued at about $566,000. Duality Advisers LP acquired a new stake in shares of Chevron in the first quarter valued at approximately $1,029,000. Empowered Funds LLC lifted its position in Chevron by 5.4% during the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after buying an additional 22,047 shares in the last quarter. Hilltop National Bank purchased a new stake in Chevron in the 1st quarter valued at $1,200,000. Finally, Brooklyn Investment Group grew its holdings in Chevron by 35.5% in the 1st quarter. Brooklyn Investment Group now owns 7,053 shares of the oil and gas company’s stock valued at $1,122,000 after buying an additional 1,846 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Truist Financial increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Up 0.1 %

CVX traded up $0.16 on Friday, reaching $156.93. The company’s stock had a trading volume of 6,041,457 shares, compared to its average volume of 6,615,985. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The stock has a 50 day moving average of $147.80 and a two-hundred day moving average of $152.89. The company has a market capitalization of $287.01 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 3.51 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Chevron 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.