GLOBALT Investments LLC GA Trims Holdings in Chevron Co. (NYSE:CVX)

GLOBALT Investments LLC GA trimmed its position in Chevron Co. (NYSE:CVX) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,059 shares of the oil and gas company’s stock after selling 913 shares during the period. GLOBALT Investments LLC GA’s holdings in Chevron were worth $6,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth about $29,000. Anfield Capital Management LLC increased its position in 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 in the last quarter. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Chevron in the third quarter valued at approximately $47,000. Finally, Krane Funds Advisors LLC acquired a new stake in Chevron in the third quarter valued at approximately $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.2 %

Shares of Chevron stock opened at $161.42 on Monday. The firm has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a 50-day simple moving average of $149.39 and a 200-day simple moving average of $152.57.

Chevron (NYSE:CVX) last posted its earnings results 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. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Barclays raised their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron 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.