City Center Advisors LLC Has $213,000 Stock Holdings in Chevron Co. (NYSE:CVX)

City Center Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 45.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,444 shares of the oil and gas company’s stock after selling 1,216 shares during the period. City Center Advisors LLC’s holdings in Chevron were worth $213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacifica Partners Inc. raised its position in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its position in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC raised its position in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its position in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised its position in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $148.76 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $274.16 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.72 and a beta of 1.09. The stock’s fifty day moving average price is $145.88 and its 200 day moving average price is $154.09.

Chevron (NYSE:CVX) last posted its quarterly 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 net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 11.09 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. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Scotiabank decreased their target price 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. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.59.

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.