Carnegie Investment Counsel Has $19.33 Million Stock Position in Chevron Co. (NYSE:CVX)

Carnegie Investment Counsel lessened its stake in shares of Chevron Co. (NYSE:CVX) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,253 shares of the oil and gas company’s stock after selling 11,996 shares during the period. Carnegie Investment Counsel’s holdings in Chevron were worth $19,328,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CVX. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% in the first 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 in the last quarter. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Cooksen Wealth LLC acquired a new position in shares of Chevron during the 4th quarter worth about $40,000. Finally, Vima LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $44,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.5 %

Shares of CVX stock opened at $151.42 on Friday. The stock has a 50 day simple moving average of $145.46 and a 200 day simple moving average of $153.95. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $276.94 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last released its 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $3.08 earnings per share. On average, research analysts predict that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Analyst Ratings Changes

A number of equities analysts recently commented on CVX shares. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group lifted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Six 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.81.

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.