Chevron Co. (NYSE:CVX) Stock Holdings Reduced by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 23.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,225 shares of the oil and gas company’s stock after selling 1,318 shares during the period. Crescent Grove Advisors LLC’s holdings in Chevron were worth $622,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter valued at approximately $29,000. Anfield Capital Management LLC grew its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings 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 worth $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth $47,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron during the third quarter valued at about $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.4 %

CVX stock opened at $153.42 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $280.59 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 3.39 and a beta of 1.09. The business’s fifty day moving average price is $147.20 and its two-hundred day moving average price is $152.86.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company cut 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. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.93.

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.