North Star Asset Management Inc. Trims Stake in Chevron Co. (NYSE:CVX)

North Star Asset Management Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,825 shares of the oil and gas company’s stock after selling 425 shares during the quarter. North Star Asset Management Inc.’s holdings in Chevron were worth $1,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth $30,000. Anfield Capital Management LLC boosted its position in Chevron by 118.0% during the second 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 position 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 valued at $42,000 after buying an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada decreased their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho upped their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Sanford C. Bernstein lowered 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. Finally, Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Down 1.7 %

Shares of NYSE CVX opened at $138.48 on Friday. The stock has a market cap of $255.21 billion, a PE ratio of 12.74, a P/E/G ratio of 2.50 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 12-month low of $137.87 and a 12-month high of $171.70. The company has a 50-day moving average of $150.82 and a 200 day moving average of $155.26.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. As a group, sell-side analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.71%. Chevron’s payout ratio is 59.98%.

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.