Searle & CO. Sells 7,228 Shares of Chevron Co. (NYSE:CVX)

Searle & CO. cut its stake in shares of Chevron Co. (NYSE:CVX) by 42.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,846 shares of the oil and gas company’s stock after selling 7,228 shares during the quarter. Searle & CO.’s holdings in Chevron were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CVX. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% in the 2nd 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 during the last quarter. Livelsberger Financial Advisory acquired a new stake in Chevron during the 3rd quarter worth approximately $47,000. Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron in the 1st quarter valued at approximately $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Scotiabank reduced 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 report on Thursday, October 10th. Barclays cut their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

Chevron stock opened at $150.46 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $277.29 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.73 and a beta of 1.09. The firm has a 50 day moving average price of $146.44 and a 200-day moving average price of $153.45. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.