Goelzer Investment Management Inc. Sells 2,394 Shares of Chevron Co. (NYSE:CVX)

Goelzer Investment Management Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,749 shares of the oil and gas company’s stock after selling 2,394 shares during the quarter. Chevron accounts for 0.7% of Goelzer Investment Management Inc.’s holdings, making the stock its 22nd biggest holding. Goelzer Investment Management Inc.’s holdings in Chevron were worth $12,187,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC increased its position in shares of Chevron by 1.4% in the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after purchasing an additional 100 shares during the period. Wescott Financial Advisory Group LLC raised its position 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 valued at $516,000 after buying an additional 334 shares in the last quarter. Wealth Quarterback LLC raised its position in shares of Chevron by 5.1% in the 4th 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 in the last quarter. Waterloo Capital L.P. lifted its holdings in shares of Chevron by 90.5% during the 4th 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. boosted its position in shares of Chevron by 1.0% during the 4th 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 own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Chevron Trading Down 0.3 %

Shares of NYSE CVX traded down $0.51 during trading on Friday, reaching $150.74. The company had a trading volume of 7,895,285 shares, compared to its average volume of 7,830,814. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $277.81 billion, a P/E ratio of 13.87, a PEG ratio of 2.64 and a beta of 1.09. The company’s fifty day moving average price is $145.99 and its 200-day moving average price is $154.13.

Chevron (NYSE:CVX) last announced its 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

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

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.