Stonebrook Private Inc. Decreases Position in Chevron Co. (NYSE:CVX)

Stonebrook Private Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 30.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,685 shares of the oil and gas company’s stock after selling 1,615 shares during the period. Stonebrook Private Inc.’s holdings in Chevron were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. American Capital Advisory LLC grew its position in 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 last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC boosted its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVX shares. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada reduced their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Down 1.7 %

Shares of NYSE CVX traded down $2.37 on Friday, reaching $138.56. 7,836,358 shares of the company’s stock traded hands, compared to its average volume of 7,768,067. The business’s 50 day simple moving average is $150.82 and its two-hundred day simple moving average is $155.26. Chevron Co. has a 12 month low of $137.87 and a 12 month high of $171.70. The company has a market cap of $255.36 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. 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 (NYSE:CVX) last posted its quarterly 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 return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.