Chevron Co. (NYSE:CVX) Shares Sold by ASB Consultores LLC

ASB Consultores LLC lessened its position in Chevron Co. (NYSE:CVX) by 36.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,697 shares of the oil and gas company’s stock after selling 2,112 shares during the quarter. ASB Consultores LLC’s holdings in Chevron were worth $578,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc boosted its stake in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Capital World Investors boosted its holdings in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Capital International Investors grew its position in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after purchasing an additional 126,889 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $144.98 on Friday. 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 capitalization of $267.19 billion, a P/E ratio of 13.34, a PEG ratio of 2.48 and a beta of 1.09. The business has a 50 day simple moving average of $148.26 and a 200-day simple moving average of $154.47. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly 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). 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 analyst estimates of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.50%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVX shares. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. UBS Group decreased their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.41.

About Chevron

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.