Chevron Co. (NYSE:CVX) Shares Sold by UMB Bank n.a.

UMB Bank n.a. cut its position in Chevron Co. (NYSE:CVX) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,546 shares of the oil and gas company’s stock after selling 7,799 shares during the quarter. Chevron accounts for 0.9% of UMB Bank n.a.’s holdings, making the stock its 25th largest holding. UMB Bank n.a.’s holdings in Chevron were worth $56,043,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Pacifica Partners Inc. raised its position in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC raised its holdings in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC lifted its stake in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its holdings in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the period. Finally, Ellenbecker Investment Group increased its position in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.7 %

Shares of CVX stock traded up $1.12 during trading hours on Thursday, hitting $150.77. 1,131,103 shares of the company were exchanged, compared to its average volume of 7,762,330. The stock has a market capitalization of $275.75 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.72 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The business’s 50-day simple moving average is $145.45 and its two-hundred day simple moving average is $154.02. 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 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm 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 earned $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday. 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. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Scotiabank dropped their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $178.59.

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.