Ramsay Stattman Vela & Price Inc. Sells 2,225 Shares of Chevron Co. (NYSE:CVX)

Ramsay Stattman Vela & Price Inc. cut its position in Chevron Co. (NYSE:CVX) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,353 shares of the oil and gas company’s stock after selling 2,225 shares during the quarter. Ramsay Stattman Vela & Price Inc.’s holdings in Chevron were worth $4,912,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Anfield Capital Management LLC lifted its position in shares of 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 buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in 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. Livelsberger Financial Advisory acquired a new stake in Chevron during the 3rd quarter valued at $47,000. Krane Funds Advisors LLC bought a new position in Chevron during the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Chevron in the first quarter valued at $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.3 %

Shares of Chevron stock opened at $148.55 on Wednesday. The firm’s 50-day moving average price is $146.74 and its two-hundred day moving average price is $153.08. The company has a market capitalization of $271.69 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 3.29 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business earned $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.39%. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Finally, Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron 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.