Ballentine Partners LLC Sells 2,090 Shares of Chevron Co. (NYSE:CVX)

Ballentine Partners LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 6.2% in the second quarter, Holdings Channel.com reports. The firm owned 31,644 shares of the oil and gas company’s stock after selling 2,090 shares during the period. Ballentine Partners LLC’s holdings in Chevron were worth $4,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacifica Partners Inc. raised its position in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC increased its position in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC raised its holdings in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC lifted its position in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the period. Finally, Ellenbecker Investment Group boosted its stake in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, 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 note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Down 1.7 %

NYSE CVX traded down $2.37 during trading hours on Friday, hitting $138.56. The company’s stock had a trading volume of 7,836,358 shares, compared to its average volume of 6,195,833. The company has a market capitalization of $253.42 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 2.40 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 52 week low of $137.87 and a 52 week high of $171.70. The company’s 50-day simple moving average is $150.82 and its two-hundred day simple moving average is $155.26.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during 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%. 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. Research analysts anticipate that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend 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.