ST Germain D J Co. Inc. Cuts Stake in Chevron Co. (NYSE:CVX)

ST Germain D J Co. Inc. reduced its position in Chevron Co. (NYSE:CVX) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,785 shares of the oil and gas company’s stock after selling 467 shares during the period. ST Germain D J Co. Inc.’s holdings in Chevron were worth $2,030,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after buying an additional 3,048,819 shares during the period. Wulff Hansen & CO. raised its position in shares of Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Chevron during the 1st quarter worth $156,482,000. Capital International Investors boosted its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Chevron by 38.6% in the second quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after purchasing an additional 681,394 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on CVX shares. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group raised their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Trading Down 0.3 %

Shares of NYSE:CVX opened at $150.75 on Friday. 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 Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The stock has a market cap of $277.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. The business has a 50-day moving average price of $146.07 and a 200-day moving average price of $153.66.

Chevron (NYSE:CVX) last posted its quarterly 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the business posted $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s dividend payout ratio is presently 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.