TD Asset Management Inc Cuts Position in Chevron Co. (NYSE:CVX)

TD Asset Management Inc cut its stake in Chevron Co. (NYSE:CVX) by 12.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 983,449 shares of the oil and gas company’s stock after selling 141,261 shares during the quarter. TD Asset Management Inc owned about 0.05% of Chevron worth $153,831,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CVX. American Capital Advisory LLC boosted its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth $30,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter worth $40,000. Finally, Clear Investment Research LLC boosted its position in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $140.95 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The business has a 50-day moving average price of $151.18 and a 200 day moving average price of $155.37. The firm has a market cap of $257.79 billion, a PE ratio of 12.97, a P/E/G ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.63%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.82.

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.