Chevron Co. (NYSE:CVX) Stake Lowered by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,281 shares of the oil and gas company’s stock after selling 248 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Chevron were worth $14,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. raised its position in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after acquiring an additional 369 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in shares of Chevron by 1.0% in the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after purchasing an additional 82 shares during the last quarter. Gryphon Financial Partners LLC increased its position in Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after buying an additional 4,047 shares during the last quarter. Fiera Capital Corp raised its holdings in Chevron by 46.2% during the fourth quarter. Fiera Capital Corp now owns 11,396 shares of the oil and gas company’s stock valued at $1,700,000 after buying an additional 3,600 shares in the last quarter. Finally, Trillium Asset Management LLC lifted its position in shares of Chevron by 20.5% in the fourth quarter. Trillium Asset Management LLC now owns 4,452 shares of the oil and gas company’s stock worth $664,000 after buying an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Barclays dropped their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Price Performance

Shares of NYSE:CVX opened at $140.61 on Friday. The firm has a market capitalization of $257.16 billion, a PE ratio of 12.94, a PEG ratio of 2.37 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 1-year low of $135.37 and a 1-year high of $171.70. The business’s 50 day moving average is $149.12 and its 200-day moving average is $154.73.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 EPS. Sell-side analysts predict 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. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Chevron 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.