Abbrea Capital LLC Sells 345 Shares of Chevron Co. (NYSE:CVX)

Abbrea Capital LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,532 shares of the oil and gas company’s stock after selling 345 shares during the period. Chevron comprises about 0.8% of Abbrea Capital LLC’s investment portfolio, making the stock its 28th largest position. Abbrea Capital LLC’s holdings in Chevron were worth $6,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CVX. Norges Bank bought a new stake in Chevron in the fourth quarter valued at $2,902,007,000. Berkshire Hathaway Inc grew its position in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Capital World Investors grew its position in Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares during the period. Franklin Resources Inc. grew its position in Chevron by 13.0% in the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after acquiring an additional 1,797,171 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Chevron by 68,604.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock worth $180,158,000 after purchasing an additional 1,206,059 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Truist Financial decreased 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 decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Up 1.0 %

NYSE:CVX opened at $139.22 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The business’s 50-day moving average price is $149.40 and its two-hundred day moving average price is $154.81. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $254.62 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.37 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.08 EPS. On average, equities analysts expect that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 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.