Dumont & Blake Investment Advisors LLC Has $1.40 Million Stock Position in Chevron Co. (NYSE:CVX)

Dumont & Blake Investment Advisors LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 51.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,492 shares of the oil and gas company’s stock after selling 9,904 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Chevron were worth $1,398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CVX. Ameriprise Financial Inc. raised its position 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 worth $2,676,957,000 after acquiring an additional 501,969 shares in the last quarter. Capital World Investors increased its stake in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted its stake in Chevron by 4.9% in the 2nd 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 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 worth $2,116,600,000 after purchasing an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in 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 worth $2,036,846,000 after buying an additional 126,889 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVX. UBS Group raised their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

CVX opened at $150.82 on Friday. The firm has a market cap of $277.96 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The business’s fifty day moving average is $146.51 and its 200-day moving average is $153.43. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last issued its quarterly 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the company posted $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 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.