Bleakley Financial Group LLC Decreases Position in Chevron Co. (NYSE:CVX)

Bleakley Financial Group LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,126 shares of the oil and gas company’s stock after selling 4,418 shares during the quarter. Bleakley Financial Group LLC’s holdings in Chevron were worth $8,708,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Capital World Investors grew its holdings in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after purchasing an additional 629,644 shares during the last quarter. Capital International Investors grew its holdings in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after purchasing an additional 126,889 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CVX shares. Bank of America started coverage on Chevron in a report on Thursday. They set a “buy” rating and a $168.00 target price for the company. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Performance

Shares of NYSE CVX opened at $151.19 on Friday. The stock has a fifty day moving average price of $145.96 and a two-hundred day moving average price of $153.76. 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 firm has a market cap of $276.51 billion, a P/E ratio of 14.97, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17.

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). The firm had revenue of $51.18 billion for 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 for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.08 earnings per share. Research analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

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.