Chevron Co. (NYSE:CVX) Holdings Trimmed by Probity Advisors Inc.

Probity Advisors Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,154 shares of the oil and gas company’s stock after selling 79 shares during the period. Probity Advisors Inc.’s holdings in Chevron were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVX. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron in the 1st quarter valued at $55,000. Richardson Capital Management LLC acquired a new stake in shares of Chevron in the 1st quarter valued at $58,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. Bank of America began coverage on shares of Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.81.

Chevron Stock Performance

NYSE CVX opened at $148.85 on Thursday. The stock has a market cap of $274.33 billion, a P/E ratio of 13.68, a PEG ratio of 2.72 and a beta of 1.09. The company’s 50-day simple moving average is $145.82 and its 200 day simple moving average is $153.78. Chevron Co. has a twelve month low of $135.37 and a twelve month 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.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during 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 business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.