Little House Capital LLC Reduces Position in Chevron Co. (NYSE:CVX)

Little House Capital LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,607 shares of the oil and gas company’s stock after selling 2,028 shares during the period. Chevron comprises approximately 1.0% of Little House Capital LLC’s portfolio, making the stock its 28th biggest holding. Little House Capital LLC’s holdings in Chevron were worth $3,477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Selective Wealth Management Inc. purchased a new position in shares of Chevron during the 1st quarter valued at about $216,000. &PARTNERS lifted its stake in shares of Chevron by 66.9% during the 1st quarter. &PARTNERS now owns 22,692 shares of the oil and gas company’s stock worth $3,579,000 after purchasing an additional 9,096 shares during the last quarter. Douglas Lane & Associates LLC increased its position in Chevron by 4.7% during the 1st quarter. Douglas Lane & Associates LLC now owns 450,594 shares of the oil and gas company’s stock valued at $71,077,000 after buying an additional 20,100 shares in the last quarter. Bangor Savings Bank increased its holdings in shares of Chevron by 4.4% in the first quarter. Bangor Savings Bank now owns 18,774 shares of the oil and gas company’s stock valued at $2,961,000 after purchasing an additional 789 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in Chevron by 7.8% during the first quarter. Salem Investment Counselors Inc. now owns 33,608 shares of the oil and gas company’s stock worth $5,301,000 after acquiring an additional 2,442 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America started coverage on Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Barclays dropped their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Performance

CVX stock traded up $0.20 during midday trading on Monday, reaching $150.95. The stock had a trading volume of 2,371,014 shares, compared to its average volume of 7,679,878. The firm has a fifty day simple moving average of $146.07 and a two-hundred day simple moving average of $153.62. The stock has a market cap of $278.20 billion, a PE ratio of 13.94, a P/E/G ratio of 2.74 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. 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 (NYSE:CVX) last announced its quarterly earnings data 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. Chevron’s payout ratio is 59.98%.

About Chevron

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.