Orleans Capital Management Corp LA Sells 320 Shares of Chevron Co. (NYSE:CVX)

Orleans Capital Management Corp LA lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,404 shares of the oil and gas company’s stock after selling 320 shares during the period. Chevron accounts for approximately 1.9% of Orleans Capital Management Corp LA’s holdings, making the stock its 17th biggest position. Orleans Capital Management Corp LA’s holdings in Chevron were worth $3,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Eagle Capital Management LLC boosted its holdings in Chevron by 0.5% in 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 acquiring an additional 163 shares in the last quarter. Lane & Associates LLC bought a new position in Chevron in the 1st quarter worth about $345,000. KCM Investment Advisors LLC grew its position in Chevron by 2.5% during 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 purchasing an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in Chevron during the 4th quarter valued at about $46,000. Finally, Hosking Partners LLP purchased a new position in Chevron in the first quarter worth about $4,924,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX opened at $147.27 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The company 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. 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 company’s 50 day moving average is $146.43 and its 200 day moving average is $154.25.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the firm earned $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CVX shares. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday. Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. UBS Group reduced their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron 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.