Xponance Inc. Cuts Stock Position in Chevron Co. (NYSE:CVX)

Xponance Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,540 shares of the oil and gas company’s stock after selling 6,471 shares during the period. Xponance Inc.’s holdings in Chevron were worth $36,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC increased its position in shares of Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new stake in shares of Chevron in the first quarter valued at about $345,000. KCM Investment Advisors LLC lifted its stake in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in Chevron during the 4th quarter valued at about $46,000. Finally, Hosking Partners LLP purchased a new position in Chevron in the 1st quarter worth approximately $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

CVX stock opened at $145.68 on Monday. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The firm has a market capitalization of $268.48 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. The company’s 50 day moving average price is $148.06 and its 200 day moving average price is $154.53.

Chevron (NYSE:CVX) last posted 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 business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. On average, equities research analysts anticipate that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.