Valley National Advisers Inc. Sells 659 Shares of Chevron Co. (NYSE:CVX)

Valley National Advisers Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 20.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,560 shares of the oil and gas company’s stock after selling 659 shares during the quarter. Valley National Advisers Inc.’s holdings in Chevron were worth $377,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CVX. Pullen Investment Management LLC lifted its position in shares of Chevron by 1.5% in the third quarter. Pullen Investment Management LLC now owns 17,667 shares of the oil and gas company’s stock valued at $2,602,000 after acquiring an additional 266 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Chevron by 10.6% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 1,784 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 171 shares during the period. Manchester Financial Inc. raised its stake in Chevron by 3.7% during the 3rd quarter. Manchester Financial Inc. now owns 2,589 shares of the oil and gas company’s stock valued at $381,000 after purchasing an additional 93 shares during the period. Amarillo National Bank lifted its holdings in Chevron by 54.8% in the 3rd quarter. Amarillo National Bank now owns 4,471 shares of the oil and gas company’s stock worth $658,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Kavar Capital Partners Group LLC grew its holdings in Chevron by 5.3% during the 3rd quarter. Kavar Capital Partners Group LLC now owns 20,699 shares of the oil and gas company’s stock valued at $3,048,000 after buying an additional 1,037 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.2 %

Shares of CVX opened at $150.81 on Monday. The company’s fifty day simple moving average is $146.59 and its 200-day simple moving average is $153.23. The company has a market cap of $277.94 billion, a P/E ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. 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 twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the company earned $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued 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 was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.