BBR Partners LLC Sells 4,091 Shares of Chevron Co. (NYSE:CVX)

BBR Partners LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 17.5% during the second quarter, Holdings Channel.com reports. The fund owned 19,322 shares of the oil and gas company’s stock after selling 4,091 shares during the period. BBR Partners LLC’s holdings in Chevron were worth $3,022,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Eagle Capital Management LLC boosted its stake in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC bought a new position in shares of Chevron during the first quarter worth $345,000. Seven Mile Advisory grew its stake in Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 247 shares in the last quarter. KCM Investment Advisors LLC increased its holdings in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron in the 4th quarter worth $46,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CVX shares. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein cut shares of 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 report on Wednesday, July 17th. Royal Bank of Canada lowered their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Mizuho boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

CVX opened at $140.95 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $151.18 and a 200 day moving average of $155.37. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a market cap of $257.79 billion, a P/E ratio of 12.97, a PEG ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 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.