Chevron Co. (NYSE:CVX) Stock Holdings Lessened by Estabrook Capital Management

Estabrook Capital Management lowered its stake in shares of Chevron Co. (NYSE:CVX) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,451 shares of the oil and gas company’s stock after selling 576 shares during the period. Chevron accounts for approximately 2.1% of Estabrook Capital Management’s portfolio, making the stock its 10th biggest holding. Estabrook Capital Management’s holdings in Chevron were worth $13,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC boosted 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 worth $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Chevron during the fourth quarter worth about $30,000. Anfield Capital Management LLC boosted its stake 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. Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. 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. UBS Group lowered their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered their price target on 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, Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $182.41.

Chevron Price Performance

Shares of CVX stock opened at $145.68 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The company has a market capitalization of $268.48 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. 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 has a fifty day simple moving average of $148.06 and a 200-day simple moving average of $154.48.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.48%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.