Chevron Co. (NYSE:CVX) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. lessened its position in Chevron Co. (NYSE:CVX) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,803 shares of the oil and gas company’s stock after selling 1,350 shares during the period. Atomi Financial Group Inc.’s holdings in Chevron were worth $4,389,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.5% in 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 purchasing an additional 163 shares in the last quarter. Lane & Associates LLC bought a new position in shares of Chevron in the first quarter valued at $345,000. KCM Investment Advisors LLC lifted its position in shares of 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 acquiring an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Chevron during the 4th quarter worth $46,000. Finally, Hosking Partners LLP acquired a new position in shares of Chevron in the 1st quarter worth $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $3.16 during mid-day trading on Tuesday, hitting $147.96. The company had a trading volume of 1,800,470 shares, compared to its average volume of 7,789,794. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The firm has a market cap of $272.69 billion, a P/E ratio of 13.60, a PEG ratio of 2.72 and a beta of 1.09. The business’s 50-day simple moving average is $145.88 and its 200-day simple moving average is $154.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS 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 net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 earnings per share. As a group, analysts predict that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid 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 4.41%. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.41.

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.