Dover Advisors LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Dover Advisors LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,527 shares of the oil and gas company’s stock after selling 359 shares during the period. Chevron makes up approximately 1.2% of Dover Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Dover Advisors LLC’s holdings in Chevron were worth $2,139,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. American Capital Advisory LLC lifted its position in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings 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 worth $39,000 after purchasing an additional 100 shares during the period. Cooksen Wealth LLC bought a new position in shares of Chevron during the 4th quarter valued at approximately $40,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron during the 4th quarter valued at $46,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. 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 report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Finally, Truist Financial decreased their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $176.81.

Chevron Stock Performance

Shares of NYSE:CVX traded down $4.05 during trading on Tuesday, hitting $147.73. 6,685,755 shares of the stock traded hands, compared to its average volume of 7,742,076. The company has a fifty day moving average price of $145.61 and a two-hundred day moving average price of $153.89. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a market cap of $272.26 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted 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 firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $3.08 earnings per share. As a group, equities analysts predict that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.41%. The ex-dividend date was Monday, August 19th. 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.