Valicenti Advisory Services Inc. Sells 346 Shares of Chevron Co. (NYSE:CVX)

Valicenti Advisory Services Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,738 shares of the oil and gas company’s stock after selling 346 shares during the period. Chevron comprises 2.1% of Valicenti Advisory Services Inc.’s holdings, making the stock its 17th largest holding. Valicenti Advisory Services Inc.’s holdings in Chevron were worth $8,356,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its stake in shares of Chevron by 66.7% during 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. Krane Funds Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $47,000. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the 3rd quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Chevron during the 1st quarter worth about $55,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.0 %

NYSE CVX opened at $150.46 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 $167.11. The firm has a market cap of $275.18 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The company has a 50 day moving average price of $146.44 and a 200 day moving average price of $153.45.

Chevron (NYSE:CVX) last issued 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid 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 payout ratio is 64.55%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays lowered their price objective 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. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.