Chevron Co. (NYSE:CVX) Stake Lessened by Sierra Capital LLC

Sierra Capital LLC cut its stake in Chevron Co. (NYSE:CVX) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,477 shares of the oil and gas company’s stock after selling 1,428 shares during the period. Sierra Capital LLC’s holdings in Chevron were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 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 holdings in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron during the third quarter worth approximately $47,000. Livelsberger Financial Advisory bought a new stake in Chevron during the third quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron during the first quarter worth approximately $55,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $150.92 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s fifty day simple moving average is $146.32 and its 200 day simple moving average is $153.47. 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 firm has a market capitalization of $278.14 billion, a PE ratio of 13.88, a PEG ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last posted 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 analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.95 EPS for the current 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 given a $1.63 dividend. 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 is 59.98%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays cut their target price 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. Finally, Truist Financial cut their target price 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. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.