American Trust Lowers Stake in Chevron Co. (NYSE:CVX)

American Trust lowered its stake in shares of Chevron Co. (NYSE:CVX) by 14.1% in the second quarter, HoldingsChannel.com reports. The firm owned 3,066 shares of the oil and gas company’s stock after selling 502 shares during the period. American Trust’s holdings in Chevron were worth $480,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Eagle Capital Management LLC boosted its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in Chevron during the 1st quarter worth approximately $345,000. KCM Investment Advisors LLC lifted its holdings in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Chevron during the 4th quarter worth approximately $46,000. Finally, Hosking Partners LLP acquired a new stake in Chevron during the 1st quarter worth approximately $4,924,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.8 %

Shares of Chevron stock opened at $150.97 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. 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 company has a market capitalization of $276.11 billion, a P/E ratio of 13.89, a PEG ratio of 2.64 and a beta of 1.09. The company’s fifty day moving average is $146.26 and its two-hundred day moving average is $154.19.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the business posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that Chevron Co. will post 11.02 earnings per share 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 given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company reduced 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. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.00.

Chevron Company 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.