Chevron Co. (NYSE:CVX) Shares Sold by Bank of New Hampshire

Bank of New Hampshire trimmed its position in Chevron Co. (NYSE:CVX) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,821 shares of the oil and gas company’s stock after selling 565 shares during the quarter. Bank of New Hampshire’s holdings in Chevron were worth $1,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Capital Management LLC raised its stake in Chevron by 0.5% during the 1st 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 acquired a new stake in Chevron during the 1st quarter worth $345,000. KCM Investment Advisors LLC raised its stake 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 worth $52,299,000 after acquiring an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the fourth quarter worth approximately $46,000. Finally, Hosking Partners LLP acquired a new position in shares of Chevron in the 1st quarter valued at $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX traded up $0.40 on Monday, hitting $151.14. 5,891,061 shares of the company were exchanged, compared to its average volume of 7,820,800. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $278.55 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The business’s fifty day moving average is $145.99 and its 200 day moving average is $154.11.

Chevron (NYSE:CVX) last released its quarterly 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed 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 dividend yield of 4.31%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

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.