Profund Advisors LLC Trims Position in Chevron Co. (NYSE:CVX)

Profund Advisors LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,498 shares of the oil and gas company’s stock after selling 1,055 shares during the period. Profund Advisors LLC’s holdings in Chevron were worth $13,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. American Capital Advisory LLC increased its holdings in Chevron by 403.2% during the 1st 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 period. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $30,000. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cooksen Wealth LLC bought a new position in Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC increased its position in 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 purchasing an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.5 %

NYSE CVX opened at $145.68 on Friday. The stock has a market cap of $268.48 billion, a P/E ratio of 13.40, a P/E/G 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. Chevron Co. has a 12-month low of $135.37 and a 12-month 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 $154.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during 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 business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 EPS. On average, analysts forecast that Chevron Co. will post 11.48 earnings per share for the current 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 given a $1.63 dividend. The ex-dividend date of this dividend 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 is currently 59.98%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVX. UBS Group dropped their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada reduced their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays reduced their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.