Chevron Co. (NYSE:CVX) Stake Lowered by Haverford Financial Services Inc.

Haverford Financial Services Inc. cut its stake in shares of Chevron Co. (NYSE:CVX) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,573 shares of the oil and gas company’s stock after selling 78 shares during the quarter. Chevron makes up 2.7% of Haverford Financial Services Inc.’s portfolio, making the stock its 17th largest holding. Haverford Financial Services Inc.’s holdings in Chevron were worth $8,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in CVX. American Capital Advisory LLC grew its holdings in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Chevron in the 4th quarter worth approximately $30,000. Anfield Capital Management LLC grew 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 worth $34,000 after buying an additional 118 shares in the last quarter. Cooksen Wealth LLC bought a new position in Chevron in the 4th quarter worth approximately $40,000. Finally, Clear Investment Research LLC grew its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX opened at $143.96 on Thursday. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The stock has a fifty day moving average of $148.47 and a 200-day moving average of $154.54. The company has a market capitalization of $263.29 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. 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 (NYSE:CVX) last announced 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 last year, the company posted $3.08 EPS. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.53%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial decreased their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada decreased their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock 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 given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $182.41.

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.