M&G Plc Sells 3,012 Shares of Chevron Co. (NYSE:CVX)

M&G Plc trimmed its stake in Chevron Co. (NYSE:CVX) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 187,022 shares of the oil and gas company’s stock after selling 3,012 shares during the quarter. M&G Plc’s holdings in Chevron were worth $27,492,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Consilium Wealth Advisory LLC raised its stake in shares of Chevron by 4.6% in the 3rd quarter. Consilium Wealth Advisory LLC now owns 5,349 shares of the oil and gas company’s stock valued at $788,000 after acquiring an additional 236 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Chevron by 13.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 91,859 shares of the oil and gas company’s stock worth $13,528,000 after buying an additional 11,151 shares during the period. Gordian Advisors LLC bought a new position in Chevron in the 3rd quarter worth approximately $236,000. Centennial Wealth Advisory LLC increased its position in Chevron by 5.8% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,453 shares of the oil and gas company’s stock worth $803,000 after buying an additional 299 shares during the period. Finally, Maia Wealth LLC increased its position in Chevron by 3.1% in the 3rd quarter. Maia Wealth LLC now owns 3,577 shares of the oil and gas company’s stock worth $538,000 after buying an additional 107 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 2.8 %

CVX stock opened at $157.65 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $288.33 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.43 and a beta of 1.09. The business has a 50-day moving average of $147.43 and a 200-day moving average of $152.90. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.05 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s dividend payout ratio is currently 71.65%.

Analyst Ratings Changes

Several research analysts have commented on the company. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

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.