Amalgamated Bank Trims Stock Position in Chevron Co. (NYSE:CVX)

Amalgamated Bank cut its position in shares of Chevron Co. (NYSE:CVX) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,325 shares of the oil and gas company’s stock after selling 8,356 shares during the period. Amalgamated Bank’s holdings in Chevron were worth $49,825,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CVX. China Universal Asset Management Co. Ltd. purchased a new position in Chevron during the first quarter worth about $566,000. Main Street Research LLC increased its position in shares of Chevron by 7.0% during the first quarter. Main Street Research LLC now owns 10,897 shares of the oil and gas company’s stock valued at $1,719,000 after acquiring an additional 712 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of Chevron by 3.4% during the first quarter. Moloney Securities Asset Management LLC now owns 26,194 shares of the oil and gas company’s stock valued at $4,132,000 after acquiring an additional 873 shares during the last quarter. Lewis Asset Management LLC increased its position in shares of Chevron by 5.3% during the first quarter. Lewis Asset Management LLC now owns 2,155 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 109 shares during the last quarter. Finally, Crown Wealth Group LLC increased its position in shares of Chevron by 52.2% during the first quarter. Crown Wealth Group LLC now owns 2,845 shares of the oil and gas company’s stock valued at $449,000 after acquiring an additional 976 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Mizuho dropped their price target on shares of 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 assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. UBS Group lifted their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 0.6 %

NYSE CVX opened at $153.97 on Tuesday. 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 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market capitalization of $281.60 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.09. The firm has a 50 day moving average of $147.07 and a two-hundred day moving average of $152.91.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.23%. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.