Chevron Co. (NYSE:CVX) Shares Sold by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. decreased its holdings in Chevron Co. (NYSE:CVX) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,792 shares of the oil and gas company’s stock after selling 198 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Chevron were worth $3,409,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CVX. American Capital Advisory LLC lifted its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth $30,000. Anfield Capital Management LLC lifted its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the 4th quarter worth $40,000. Finally, Clear Investment Research LLC lifted its position in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVX shares. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Scotiabank decreased their price objective 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. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

Shares of NYSE:CVX opened at $140.95 on Friday. The company has a 50-day simple moving average of $151.18 and a 200-day simple moving average of $155.37. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. 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 stock has a market capitalization of $257.79 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 analyst estimates of $48.68 billion. During the same quarter last year, the firm earned $3.08 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.63%. Chevron’s payout ratio is currently 59.98%.

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.