Godshalk Welsh Capital Management Inc. Sells 100 Shares of Chevron Co. (NYSE:CVX)

Godshalk Welsh Capital Management Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,188 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Chevron makes up about 1.2% of Godshalk Welsh Capital Management Inc.’s investment portfolio, making the stock its 26th largest position. Godshalk Welsh Capital Management Inc.’s holdings in Chevron were worth $1,750,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC boosted its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC boosted its holdings in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE:CVX opened at $144.98 on Friday. 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 firm has a market cap of $267.19 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The company has a 50 day moving average price of $148.26 and a 200-day moving average price of $154.47. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business posted $3.08 EPS. Chevron’s revenue 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.50%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Truist Financial lowered their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada lowered their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday. Barclays lowered their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.41.

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.