Custom Portfolio Group LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Custom Portfolio Group LLC cut its stake in Chevron Co. (NYSE:CVX) by 2.4% in the second quarter, Holdings Channel reports. The institutional investor owned 4,108 shares of the oil and gas company’s stock after selling 100 shares during the period. Chevron makes up about 0.5% of Custom Portfolio Group LLC’s investment portfolio, making the stock its 27th biggest holding. Custom Portfolio Group LLC’s holdings in Chevron were worth $632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 3Chopt Investment Partners LLC raised its stake in shares of Chevron by 2.3% in the second quarter. 3Chopt Investment Partners LLC now owns 10,570 shares of the oil and gas company’s stock valued at $1,653,000 after acquiring an additional 239 shares during the period. SPC Financial Inc. grew its holdings in Chevron by 23.8% during the 2nd quarter. SPC Financial Inc. now owns 5,671 shares of the oil and gas company’s stock valued at $887,000 after purchasing an additional 1,092 shares during the last quarter. McGinn Penninger Investment Management Inc. raised its position in Chevron by 1.9% in the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 28,818 shares of the oil and gas company’s stock worth $4,508,000 after purchasing an additional 540 shares during the period. Pathway Financial Advisers LLC lifted its stake in Chevron by 1.5% in the second quarter. Pathway Financial Advisers LLC now owns 24,614 shares of the oil and gas company’s stock worth $3,832,000 after purchasing an additional 372 shares during the last quarter. Finally, Next Capital Management LLC boosted its position in shares of Chevron by 22.9% during the second quarter. Next Capital Management LLC now owns 2,012 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 375 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday. Scotiabank decreased their target price 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 cut their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, UBS Group decreased their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.00.

Chevron Price Performance

NYSE CVX opened at $147.27 on Tuesday. The company has a market cap of $271.41 billion, a PE ratio of 13.55, a P/E/G ratio of 2.68 and a beta of 1.09. The firm’s 50 day moving average price is $146.43 and its 200-day moving average price is $154.25. 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 Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last posted 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 analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.08 EPS. Sell-side analysts forecast that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.43%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.