Chevron Co. (NYSE:CVX) Shares Sold by Resources Management Corp CT ADV

Resources Management Corp CT ADV lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 0.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,185 shares of the oil and gas company’s stock after selling 118 shares during the quarter. Chevron accounts for about 1.3% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 21st largest holding. Resources Management Corp CT ADV’s holdings in Chevron were worth $8,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. American Investment Services Inc. increased its position in Chevron by 137.1% during the 2nd quarter. American Investment Services Inc. now owns 16,297 shares of the oil and gas company’s stock worth $2,549,000 after purchasing an additional 9,424 shares in the last quarter. Evergreen Capital Management LLC increased its position in Chevron by 1.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 40,897 shares of the oil and gas company’s stock worth $6,397,000 after purchasing an additional 775 shares in the last quarter. Public Sector Pension Investment Board increased its position in Chevron by 3.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 298,347 shares of the oil and gas company’s stock worth $46,667,000 after purchasing an additional 9,722 shares in the last quarter. Nippon Life Global Investors Americas Inc. increased its position in Chevron by 16.9% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 28,760 shares of the oil and gas company’s stock worth $4,499,000 after purchasing an additional 4,160 shares in the last quarter. Finally, Certified Advisory Corp increased its position in Chevron by 6.1% during the 2nd quarter. Certified Advisory Corp now owns 17,211 shares of the oil and gas company’s stock worth $2,692,000 after purchasing an additional 985 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $147.50 on Tuesday. The business’s fifty day moving average price is $147.85 and its 200 day moving average price is $154.51. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The stock has a market capitalization of $271.84 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the business earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. 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 report on Wednesday, September 18th. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada lowered 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. Finally, Scotiabank lowered their price objective 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. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.