Nisa Investment Advisors LLC Sells 34,617 Shares of Chevron Co. (NYSE:CVX)

Nisa Investment Advisors LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 6.9% during the third quarter, HoldingsChannel reports. The firm owned 467,131 shares of the oil and gas company’s stock after selling 34,617 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chevron were worth $68,794,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Founders Financial Securities LLC grew its holdings in Chevron by 34.5% during the 1st quarter. Founders Financial Securities LLC now owns 14,929 shares of the oil and gas company’s stock valued at $2,355,000 after purchasing an additional 3,828 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Chevron by 21.1% during the 1st quarter. New Mexico Educational Retirement Board now owns 112,116 shares of the oil and gas company’s stock worth $18,256,000 after acquiring an additional 19,500 shares during the last quarter. River Street Advisors LLC boosted its holdings in Chevron by 8.5% during the 1st quarter. River Street Advisors LLC now owns 2,719 shares of the oil and gas company’s stock valued at $429,000 after acquiring an additional 212 shares during the period. Richardson Capital Management LLC bought a new position in Chevron in the 1st quarter valued at $58,000. Finally, Cornerstone Wealth Group LLC increased its stake in Chevron by 55.0% in the first quarter. Cornerstone Wealth Group LLC now owns 46,236 shares of the oil and gas company’s stock worth $7,293,000 after purchasing an additional 16,406 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $150.55 on Tuesday. The company has a market capitalization of $275.34 billion, a PE ratio of 14.91, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a 50-day simple moving average of $146.66 and a two-hundred day simple moving average of $153.15. 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 quick ratio of 0.85 and a current ratio of 1.16.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 4.33%. Chevron’s dividend payout ratio is presently 64.55%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVX shares. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Barclays dropped their target price 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. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.07.

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.