Chevron Co. (NYSE:CVX) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,261 shares of the oil and gas company’s stock after selling 2,259 shares during the period. Chevron comprises about 0.8% of Highland Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Highland Capital Management LLC’s holdings in Chevron were worth $13,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Norwood Financial Corp grew its holdings in Chevron by 18.6% during the 1st quarter. Norwood Financial Corp now owns 1,530 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 240 shares in the last quarter. Tevis Investment Management grew its holdings in Chevron by 21.3% during the 1st quarter. Tevis Investment Management now owns 9,081 shares of the oil and gas company’s stock worth $1,432,000 after acquiring an additional 1,595 shares in the last quarter. Firethorn Wealth Partners LLC grew its holdings in Chevron by 41.6% during the 1st quarter. Firethorn Wealth Partners LLC now owns 3,759 shares of the oil and gas company’s stock worth $593,000 after acquiring an additional 1,105 shares in the last quarter. Sawyer & Company Inc grew its holdings in Chevron by 7.0% during the 1st quarter. Sawyer & Company Inc now owns 11,598 shares of the oil and gas company’s stock worth $1,829,000 after acquiring an additional 758 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in shares of Chevron by 6.5% during the 1st quarter. Financial Management Professionals Inc. now owns 6,218 shares of the oil and gas company’s stock valued at $981,000 after acquiring an additional 379 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.2 %

Shares of CVX stock opened at $150.81 on Friday. 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 1 year low of $135.37 and a 1 year high of $167.11. The stock has a fifty day moving average of $146.59 and a two-hundred day moving average of $153.30. The firm has a market capitalization of $277.94 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 EPS. Chevron’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial dropped their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.