Eagle Rock Investment Company LLC Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Eagle Rock Investment Company LLC decreased its stake in Chevron Co. (NYSE:CVX) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,084 shares of the oil and gas company’s stock after selling 425 shares during the quarter. Chevron makes up 1.2% of Eagle Rock Investment Company LLC’s holdings, making the stock its 24th largest position. Eagle Rock Investment Company LLC’s holdings in Chevron were worth $6,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. American Capital Advisory LLC boosted its position in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Anfield Capital Management LLC increased its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Cooksen Wealth LLC purchased a new position in shares of Chevron during the fourth quarter worth about $40,000. Finally, Vima LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CVX. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Scotiabank dropped their price objective 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. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Barclays cut their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday. Six 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Chevron Trading Up 0.5 %

Shares of Chevron stock traded up $0.69 during trading on Monday, reaching $151.43. 1,932,414 shares of the stock were exchanged, compared to its average volume of 7,800,291. 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 $279.08 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The stock’s fifty day moving average is $145.99 and its 200 day moving average is $154.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 prior year, the business posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

About Chevron

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.