Perennial Investment Advisors LLC Sells 139 Shares of Chevron Co. (NYSE:CVX)

Perennial Investment Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,418 shares of the oil and gas company’s stock after selling 139 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Chevron were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC increased its stake in shares of Chevron by 0.6% in the 2nd quarter. Clearstead Trust LLC now owns 15,444 shares of the oil and gas company’s stock valued at $2,416,000 after acquiring an additional 94 shares during the last quarter. Plancorp LLC increased its stake in shares of Chevron by 0.7% in the 2nd quarter. Plancorp LLC now owns 10,266 shares of the oil and gas company’s stock valued at $1,606,000 after acquiring an additional 73 shares during the last quarter. Sargent Investment Group LLC increased its stake in shares of Chevron by 15.6% in the 2nd quarter. Sargent Investment Group LLC now owns 16,983 shares of the oil and gas company’s stock valued at $2,656,000 after acquiring an additional 2,292 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Chevron in the 2nd quarter valued at about $2,398,000. Finally, GDS Wealth Management increased its stake in shares of Chevron by 7.0% in the 2nd quarter. GDS Wealth Management now owns 2,503 shares of the oil and gas company’s stock valued at $392,000 after acquiring an additional 163 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.1 %

Shares of NYSE CVX opened at $142.11 on Tuesday. 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 $135.37 and a 52 week high of $171.70. The stock has a market capitalization of $259.91 billion, a P/E ratio of 13.07, a PEG ratio of 2.41 and a beta of 1.09. The stock’s fifty day moving average is $148.88 and its 200 day moving average is $154.68.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.88.

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.