Stonebridge Capital Management Inc. Sells 300 Shares of Chevron Co. (NYSE:CVX)

Stonebridge Capital Management Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,747 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Chevron accounts for 2.1% of Stonebridge Capital Management Inc.’s holdings, making the stock its 15th largest position. Stonebridge Capital Management Inc.’s holdings in Chevron were worth $5,412,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Pacifica Partners Inc. boosted its position in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its stake in Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC raised its stake in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in Chevron by 3.1% in the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after purchasing an additional 65 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.3 %

Chevron stock opened at $151.14 on Tuesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The stock has a market cap of $278.55 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The firm’s 50-day simple moving average is $145.99 and its 200 day simple moving average is $154.11. 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 (NYSE:CVX) last released 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). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 earnings per share. Research analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reduced their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Scotiabank reduced 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. Finally, UBS Group reduced their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

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.