Chevron Co. (NYSE:CVX) Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 57,226 shares of the oil and gas company’s stock after selling 3,246 shares during the quarter. Leavell Investment Management Inc.’s holdings in Chevron were worth $8,428,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Easterly Investment Partners LLC lifted its holdings in Chevron by 75.1% in the 3rd quarter. Easterly Investment Partners LLC now owns 51,271 shares of the oil and gas company’s stock valued at $7,551,000 after acquiring an additional 21,996 shares during the last quarter. Triune Financial Partners LLC acquired a new stake in Chevron during the third quarter valued at approximately $354,000. Capital Performance Advisors LLP bought a new stake in Chevron during the third quarter worth approximately $124,000. Physicians Financial Services Inc. grew its position in Chevron by 0.4% in the third quarter. Physicians Financial Services Inc. now owns 38,266 shares of the oil and gas company’s stock worth $5,635,000 after buying an additional 165 shares during the last quarter. Finally, Philip James Wealth Mangement LLC bought a new position in shares of Chevron in the third quarter valued at $5,660,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday. Finally, Truist Financial boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Up 0.1 %

NYSE CVX opened at $156.95 on Friday. 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 $167.11. The firm’s fifty day simple moving average is $147.80 and its 200-day simple moving average is $152.89. The company has a market capitalization of $287.05 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $3.05 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

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.