Ramsay Stattman Vela & Price Inc. Sells 2,225 Shares of Chevron Co. (NYSE:CVX)

Ramsay Stattman Vela & Price Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,353 shares of the oil and gas company’s stock after selling 2,225 shares during the quarter. Ramsay Stattman Vela & Price Inc.’s holdings in Chevron were worth $4,912,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Eagle Capital Management LLC boosted its position in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Marietta Wealth Management LLC lifted its holdings in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC grew its stake in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC increased its holdings in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Finally, Hosking Partners LLP acquired a new stake in Chevron in the first quarter valued at $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX opened at $148.55 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $271.69 billion, a PE ratio of 14.71, a P/E/G ratio of 3.29 and a beta of 1.09. The stock has a 50-day moving average of $146.74 and a 200-day moving average of $153.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.39%. Chevron’s payout ratio is 64.55%.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. UBS Group boosted their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

About Chevron

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.