Valicenti Advisory Services Inc. Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Valicenti Advisory Services Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 56,738 shares of the oil and gas company’s stock after selling 346 shares during the period. Chevron makes up about 2.1% of Valicenti Advisory Services Inc.’s holdings, making the stock its 17th largest holding. Valicenti Advisory Services Inc.’s holdings in Chevron were worth $8,356,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $47,000. Livelsberger Financial Advisory purchased a new stake in Chevron during the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron during the first quarter worth $55,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Truist Financial lowered their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

Shares of NYSE CVX opened at $150.46 on Friday. The firm has a 50-day simple moving average of $146.44 and a 200-day simple moving average of $153.45. The stock has a market capitalization of $275.18 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 64.55%.

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.