Garrison Point Advisors LLC Sells 96 Shares of Chevron Co. (NYSE:CVX)

Garrison Point Advisors LLC cut its position in Chevron Co. (NYSE:CVX) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,486 shares of the oil and gas company’s stock after selling 96 shares during the period. Chevron makes up about 1.1% of Garrison Point Advisors LLC’s holdings, making the stock its 27th largest holding. Garrison Point Advisors LLC’s holdings in Chevron were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CVX. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth about $30,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVX shares. Scotiabank dropped their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays decreased their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Performance

NYSE CVX opened at $138.22 on Wednesday. The company has a market capitalization of $254.73 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.34 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52-week low of $137.09 and a 52-week high of $171.70. The company has a fifty day moving average of $150.13 and a 200-day moving average of $155.04.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 4.72%. The ex-dividend date was Monday, August 19th. Chevron’s 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.