Pallas Capital Advisors LLC Has $2.70 Million Stake in Chevron Co. (NYSE:CVX)

Pallas Capital Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 17,933 shares of the oil and gas company’s stock after selling 308 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Chevron were worth $2,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after buying an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after acquiring an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares during the period. Finally, Capital International Investors grew its position in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, UBS Group increased their target price 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. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 1.3 %

Shares of CVX opened at $148.55 on Wednesday. The firm has a 50 day simple moving average of $146.74 and a two-hundred day simple moving average of $153.08. The company has a market cap of $271.69 billion, a P/E ratio of 14.71, a P/E/G ratio of 3.29 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 company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. Chevron’s payout ratio is currently 64.55%.

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.