Chevron Co. (NYSE:CVX) Stake Lowered by Sentry LLC

Sentry LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 19.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,605 shares of the oil and gas company’s stock after selling 1,362 shares during the quarter. Sentry LLC’s holdings in Chevron were worth $825,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC boosted its stake in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC bought a new position in Chevron in the 1st quarter worth approximately $345,000. KCM Investment Advisors LLC increased its position in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the period. Hosking Partners LLP bought a new stake in Chevron during the 1st quarter valued at $4,924,000. Finally, Garner Asset Management Corp boosted its position in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after acquiring an additional 2,530 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 2.7 %

Shares of NYSE:CVX opened at $147.73 on Wednesday. The firm has a 50 day simple moving average of $145.70 and a 200 day simple moving average of $153.82. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. 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 company has a market cap of $272.26 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.72 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 analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. Chevron’s payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays lowered their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price 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.