Chevron Co. (NYSE:CVX) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. trimmed its holdings in Chevron Co. (NYSE:CVX) by 6.6% in the third quarter, Holdings Channel.com reports. The fund owned 17,303 shares of the oil and gas company’s stock after selling 1,218 shares during the period. Sigma Investment Counselors Inc.’s holdings in Chevron were worth $2,548,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Anfield Capital Management LLC boosted its holdings 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 buying an additional 118 shares in the last quarter. 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 acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter worth $47,000. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron during the first quarter valued at $55,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Trading Up 0.2 %

Shares of NYSE CVX opened at $150.81 on Friday. The business has a 50 day simple moving average of $146.59 and a 200 day simple moving average of $153.30. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $277.94 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business 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 business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.08 earnings per share. On average, research analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.32%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.