Chevron Co. (NYSE:CVX) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,251 shares of the oil and gas company’s stock after selling 4,113 shares during the period. Wright Investors Service Inc.’s holdings in Chevron were worth $2,099,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Eagle Capital Management LLC grew its stake in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in Chevron during the 1st quarter worth $345,000. KCM Investment Advisors LLC boosted its position in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron in the 4th quarter valued at about $46,000. Finally, Hosking Partners LLP purchased a new position in Chevron in the 1st quarter valued at about $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX traded down $0.51 on Friday, hitting $150.74. 7,895,285 shares of the company’s stock were exchanged, compared to its average volume of 8,508,590. The firm has a market cap of $275.69 billion, a PE ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The stock has a fifty day moving average of $145.99 and a two-hundred day moving average of $154.12. 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 (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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the company posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada decreased 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. Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. UBS Group decreased 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. Finally, Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $179.00.

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.