Chevron Co. (NYSE:CVX) Shares Sold by Auxier Asset Management

Auxier Asset Management reduced its stake in shares of Chevron Co. (NYSE:CVX) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,930 shares of the oil and gas company’s stock after selling 2,257 shares during the period. Auxier Asset Management’s holdings in Chevron were worth $4,056,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Legacy Financial Advisors Inc. raised its holdings in shares of Chevron by 1.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 13,286 shares of the oil and gas company’s stock worth $2,078,000 after acquiring an additional 231 shares during the period. Arista Wealth Management LLC purchased a new stake in shares of Chevron in the second quarter valued at about $221,000. Summit Trail Advisors LLC increased its position in Chevron by 29.3% during the second quarter. Summit Trail Advisors LLC now owns 42,370 shares of the oil and gas company’s stock worth $6,628,000 after purchasing an additional 9,600 shares during the last quarter. Sound Shore Management Inc. CT raised its stake in Chevron by 18.5% during the second quarter. Sound Shore Management Inc. CT now owns 85,155 shares of the oil and gas company’s stock worth $13,320,000 after purchasing an additional 13,315 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its holdings in Chevron by 10.0% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,319 shares of the oil and gas company’s stock valued at $364,000 after purchasing an additional 210 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $145.65 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The company has a fifty day simple moving average of $148.06 and a two-hundred day simple moving average of $154.45. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $268.43 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group cut their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

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.