Chevron Co. (NYSE:CVX) Shares Sold by Golden State Equity Partners

Golden State Equity Partners cut its position in shares of Chevron Co. (NYSE:CVX) by 13.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,178 shares of the oil and gas company’s stock after selling 2,902 shares during the quarter. Golden State Equity Partners’ holdings in Chevron were worth $2,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anfield Capital Management LLC increased its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at about $47,000. Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the third quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron in the first quarter valued at about $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.3 %

Shares of NYSE CVX opened at $148.06 on Thursday. The company has a market cap of $270.79 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $146.79 and its 200 day simple moving average is $153.04.

Chevron (NYSE:CVX) last announced its quarterly 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted $3.08 EPS. Equities research analysts expect that Chevron Co. will post 10.86 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 $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVX shares. UBS Group increased their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial reduced their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.