Chevron Co. (NYSE:CVX) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 71.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,578 shares of the oil and gas company’s stock after selling 13,757 shares during the period. New Century Financial Group LLC’s holdings in Chevron were worth $873,000 as of its most recent filing with the SEC.

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

Chevron Stock Performance

Shares of CVX stock opened at $147.27 on Tuesday. The stock’s 50-day moving average is $146.43 and its two-hundred day moving average is $154.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The firm has a market cap of $271.41 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.68 and a beta of 1.09.

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 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 analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.43%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CVX shares. Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. UBS Group reduced their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company lowered 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $180.00.

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.