Chevron Co. (NYSE:CVX) Stock Holdings Lowered by Red Spruce Capital LLC

Red Spruce Capital LLC cut its position in Chevron Co. (NYSE:CVX) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,135 shares of the oil and gas company’s stock after selling 507 shares during the quarter. Red Spruce Capital LLC’s holdings in Chevron were worth $1,051,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in CVX. J. W. Coons Advisors LLC increased its stake in shares of Chevron by 1.4% during the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock valued at $1,059,000 after acquiring an additional 100 shares during the period. Wescott Financial Advisory Group LLC raised its stake in shares of Chevron by 10.7% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 3,459 shares of the oil and gas company’s stock worth $516,000 after buying an additional 334 shares in the last quarter. Wealth Quarterback LLC lifted its holdings in shares of Chevron by 5.1% in the fourth quarter. Wealth Quarterback LLC now owns 6,956 shares of the oil and gas company’s stock valued at $1,037,000 after buying an additional 335 shares during the period. Waterloo Capital L.P. grew its holdings in Chevron by 90.5% during the fourth quarter. Waterloo Capital L.P. now owns 6,278 shares of the oil and gas company’s stock worth $936,000 after acquiring an additional 2,982 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Chevron by 1.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 713,990 shares of the oil and gas company’s stock worth $106,499,000 after acquiring an additional 6,744 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

Chevron stock traded down $0.51 during mid-day trading 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. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The stock has a 50 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. The stock has a market cap of $275.69 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS 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 company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVX shares. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. UBS Group dropped their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Scotiabank decreased their price objective 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.00.

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.