Chevron Co. (NYSE:CVX) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in shares of Chevron Co. (NYSE:CVX) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,961,297 shares of the oil and gas company’s stock after selling 66,513 shares during the quarter. Truist Financial Corp owned 0.11% of Chevron worth $306,786,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CVX. American Capital Advisory LLC boosted its stake in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Chevron in the 4th quarter valued at $30,000. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% in the 2nd 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 grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $40,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 1.2 %

Shares of NYSE:CVX opened at $147.27 on Tuesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. 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 company’s 50 day moving average is $146.43 and its two-hundred day moving average is $154.25.

Chevron (NYSE:CVX) last released 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). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 EPS. Equities analysts predict that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.