SFE Investment Counsel Sells 540 Shares of Chevron Co. (NYSE:CVX)

SFE Investment Counsel lessened its stake in Chevron Co. (NYSE:CVX) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,545 shares of the oil and gas company’s stock after selling 540 shares during the quarter. SFE Investment Counsel’s holdings in Chevron were worth $2,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Eagle Capital Management LLC increased its stake 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 acquiring an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in shares of Chevron in the 1st quarter valued at $345,000. Seven Mile Advisory raised its holdings in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares in the last quarter. KCM Investment Advisors LLC lifted its position 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 worth $52,299,000 after buying an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the fourth quarter valued at about $46,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.7 %

Chevron stock opened at $138.48 on Friday. The firm has a 50 day moving average price of $150.82 and a two-hundred day moving average price of $155.26. 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 Co. has a 52-week low of $137.87 and a 52-week high of $171.70. The firm has a market cap of $255.21 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last released 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). The firm 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%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.08 EPS. Equities analysts predict that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.71%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVX. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Truist Financial dropped their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Scotiabank decreased their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays dropped their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $183.82.

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.