Tower Research Capital LLC TRC trimmed its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 56.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,046 shares of the oil and gas company’s stock after selling 42,276 shares during the period. Tower Research Capital LLC TRC’s holdings in Chevron were worth $5,042,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Berkeley Capital Partners LLC increased its holdings in shares of Chevron by 13.1% in the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock worth $2,255,000 after acquiring an additional 1,661 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Chevron by 13.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock valued at $12,582,000 after buying an additional 9,477 shares during the period. Kooman & Associates increased its stake in Chevron by 11.2% during the 2nd quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock valued at $247,000 after buying an additional 158 shares during the period. Bridgewealth Advisory Group LLC boosted its position in shares of Chevron by 1.7% during the 2nd quarter. Bridgewealth Advisory Group LLC now owns 5,703 shares of the oil and gas company’s stock valued at $898,000 after purchasing an additional 95 shares in the last quarter. Finally, Reuter James Wealth Management LLC boosted its position in shares of Chevron by 30.6% during the 2nd quarter. Reuter James Wealth Management LLC now owns 6,659 shares of the oil and gas company’s stock valued at $1,048,000 after purchasing an additional 1,561 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Raymond James reduced their price objective on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Monday, October 30th. StockNews.com started coverage on shares of Chevron in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Truist Financial decreased their target price on shares of Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $187.89.
Chevron Stock Down 0.9 %
Shares of NYSE CVX traded down $1.26 during mid-day trading on Thursday, reaching $141.27. The company had a trading volume of 5,836,594 shares, compared to its average volume of 8,492,392. The stock has a fifty day moving average of $152.75 and a two-hundred day moving average of $157.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. The company has a market capitalization of $266.68 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.76 and a beta of 1.11. Chevron Co. has a 12-month low of $140.72 and a 12-month high of $187.81.
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The company had revenue of $54.08 billion during the quarter, compared to analysts’ expectations of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. Chevron’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period last year, the company earned $5.56 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.38 EPS for the current year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 4.28%. The ex-dividend date is Thursday, November 16th. Chevron’s payout ratio is presently 44.84%.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.