HTLF Bank Sells 728 Shares of Chevron Co. (NYSE:CVX)

HTLF Bank cut its position in Chevron Co. (NYSE:CVX) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 54,283 shares of the oil and gas company’s stock after selling 728 shares during the quarter. Chevron accounts for 0.9% of HTLF Bank’s portfolio, making the stock its 29th biggest holding. HTLF Bank’s holdings in Chevron were worth $7,994,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the period. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Cooksen Wealth LLC acquired a new position in Chevron during the 4th quarter valued at about $40,000. Finally, Livelsberger Financial Advisory acquired a new position in Chevron during the 4th quarter valued at about $46,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CVX shares. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group lifted their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Finally, Barclays reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.81.

Chevron Price Performance

Chevron stock traded down $4.05 during midday trading on Tuesday, hitting $147.73. 6,685,755 shares of the company’s stock were exchanged, compared to its average volume of 7,742,076. The company has a market cap of $272.26 billion, a P/E ratio of 13.76, a PEG ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a 50-day moving average price of $145.61 and a two-hundred day moving average price of $153.89. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 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.