Chevron Co. (NYSE:CVX) Shares Sold by Country Club Bank

Country Club Bank cut its position in Chevron Co. (NYSE:CVX) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,778 shares of the oil and gas company’s stock after selling 1,040 shares during the period. Chevron accounts for 1.0% of Country Club Bank’s holdings, making the stock its 21st largest position. Country Club Bank’s holdings in Chevron were worth $15,244,000 at the end of the most recent quarter.

Other institutional 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% in 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 boosted 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 worth $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter worth approximately $47,000. Livelsberger Financial Advisory purchased a new position in Chevron during the third quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron during the first quarter worth approximately $55,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVX. Mizuho reduced 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. UBS Group lifted 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. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

CVX stock opened at $150.81 on Friday. 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 company has a market capitalization of $277.94 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 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 business’s fifty day moving average price is $146.59 and its 200 day moving average price is $153.30.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.08 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid 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 yield of 4.32%. 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.