Chevron Co. (NYSE:CVX) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,414 shares of the oil and gas company’s stock after selling 3,275 shares during the quarter. Chevron makes up about 3.3% of Garland Capital Management Inc.’s investment portfolio, making the stock its 16th largest holding. Garland Capital Management Inc.’s holdings in Chevron were worth $4,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Global Wealth Management Investment Advisory Inc. grew its position in shares of Chevron by 15.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 57,240 shares of the oil and gas company’s stock valued at $8,430,000 after buying an additional 7,845 shares during the last quarter. Ameritas Advisory Services LLC boosted its stake in Chevron by 2.0% in the third quarter. Ameritas Advisory Services LLC now owns 36,104 shares of the oil and gas company’s stock valued at $5,317,000 after acquiring an additional 702 shares during the period. Heritage Investors Management Corp grew its holdings in shares of Chevron by 1.2% during the third quarter. Heritage Investors Management Corp now owns 160,112 shares of the oil and gas company’s stock valued at $23,580,000 after purchasing an additional 1,920 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in shares of Chevron by 6.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 74,036 shares of the oil and gas company’s stock worth $10,903,000 after purchasing an additional 4,535 shares during the last quarter. Finally, Clarity Financial LLC boosted its position in Chevron by 5.0% during the 3rd quarter. Clarity Financial LLC now owns 6,010 shares of the oil and gas company’s stock valued at $885,000 after purchasing an additional 285 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVX shares. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Up 0.1 %

Shares of Chevron stock traded up $0.10 on Tuesday, reaching $154.07. 919,563 shares of the company were exchanged, compared to its average volume of 7,624,784. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $281.78 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.09. The stock has a fifty day moving average price of $147.07 and a 200-day moving average price of $152.91.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the company posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 10.7 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.