Chevron Co. (NYSE:CVX) Shares Sold by First Long Island Investors LLC

First Long Island Investors LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,646 shares of the oil and gas company’s stock after selling 649 shares during the quarter. First Long Island Investors LLC’s holdings in Chevron were worth $14,969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Rational Advisors LLC purchased a new position in Chevron in the 3rd quarter worth $29,000. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% in the second 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. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter worth about $47,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVX shares. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

CVX traded down $0.36 during midday trading on Friday, hitting $161.44. 2,107,258 shares of the company traded hands, compared to its average volume of 7,646,677. The business has a 50 day simple moving average of $148.93 and a two-hundred day simple moving average of $152.71. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market capitalization of $290.12 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.57 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 10.55 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. Investors of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.