Grassi Investment Management Sells 400 Shares of Chevron Co. (NYSE:CVX)

Grassi Investment Management decreased its stake in Chevron Co. (NYSE:CVX) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,996 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Grassi Investment Management’s holdings in Chevron were worth $8,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Leo Wealth LLC increased its stake in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Marietta Wealth Management LLC lifted its stake in Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares during the last quarter. Finally, Hosking Partners LLP bought a new position in Chevron during the first quarter worth $4,924,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CVX shares. UBS Group boosted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. 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 an average price target of $173.07.

Chevron Stock Down 0.0 %

Shares of NYSE:CVX opened at $150.46 on Friday. The business’s 50 day simple moving average is $146.44 and its two-hundred day simple moving average is $153.45. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market cap of $275.18 billion, a P/E ratio of 14.90, a PEG ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $3.08 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

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.