Schmidt P J Investment Management Inc. Sells 500 Shares of Chevron Co. (NYSE:CVX)

Schmidt P J Investment Management Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 6.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,844 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Chevron were worth $1,155,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Anfield Capital Management LLC lifted its position 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 worth $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $47,000. Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the 3rd quarter valued at $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron during the 1st quarter valued at $55,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. UBS Group boosted their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial lowered their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Trading Up 0.2 %

Shares of CVX opened at $150.82 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 firm’s 50-day moving average price is $146.51 and its 200-day moving average price is $153.43. The firm has a market capitalization of $277.96 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results 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 firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $3.08 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The company 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 dividend payout ratio is currently 59.98%.

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.