Chevron Co. (NYSE:CVX) Shares Sold by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,578 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Armstrong Henry H Associates Inc.’s holdings in Chevron were worth $232,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Eagle Capital Management LLC grew its holdings in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new position in Chevron in the first quarter valued at $345,000. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% in 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 purchasing an additional 8,168 shares during the period. Livelsberger Financial Advisory acquired a new stake in Chevron in the 4th quarter valued at $46,000. Finally, Hosking Partners LLP purchased a new position in Chevron in the first quarter valued at about $4,924,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. UBS Group lowered their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Truist Financial decreased their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.00.

Chevron Trading Up 0.8 %

Chevron stock opened at $150.97 on Thursday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $276.11 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.64 and a beta of 1.09. The firm has a 50-day moving average price of $146.26 and a two-hundred day moving average price of $154.19.

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 the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $3.08 EPS. Sell-side analysts expect that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 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.