Chevron Co. (NYSE:CVX) Shares Sold by Balentine LLC

Balentine LLC decreased its position in Chevron Co. (NYSE:CVX) by 76.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,461 shares of the oil and gas company’s stock after selling 17,851 shares during the quarter. Balentine LLC’s holdings in Chevron were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC raised its holdings in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $30,000. Anfield Capital Management LLC increased its holdings 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 purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC purchased a new position in Chevron in the fourth quarter valued at about $40,000. Finally, Clear Investment Research LLC lifted its stake in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $140.30 on Tuesday. Chevron Co. has a 12 month low of $137.87 and a 12 month high of $171.70. The company has a market capitalization of $256.60 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09. The stock has a 50 day moving average of $150.50 and a two-hundred day moving average of $155.16. 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 (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 analyst estimates of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.65%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada decreased their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Mizuho lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Company 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.