TCV Trust & Wealth Management Inc. Decreases Stake in Chevron Co. (NYSE:CVX)

TCV Trust & Wealth Management Inc. cut its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 94,752 shares of the oil and gas company’s stock after selling 476 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Chevron were worth $13,954,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Anfield Capital Management LLC boosted its position 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 worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in 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 buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter worth $47,000. Livelsberger Financial Advisory acquired a new position in shares of Chevron in the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron in the first quarter valued at $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CVX shares. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Barclays decreased their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, UBS Group increased their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Shares of NYSE CVX opened at $150.81 on Monday. 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 Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business has a 50 day moving average price of $146.59 and a two-hundred day moving average price of $153.23. The firm has a market cap of $277.94 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09.

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

Chevron Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 4.32%. Chevron’s payout ratio is 59.98%.

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.