Retirement Planning Co of New England Inc. Trims Stock Position in Chevron Co. (NYSE:CVX)

Retirement Planning Co of New England Inc. lowered its position in Chevron Co. (NYSE:CVX) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,630 shares of the oil and gas company’s stock after selling 214 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Chevron were worth $1,194,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mystic Asset Management Inc. raised its position in Chevron by 0.7% during the 2nd quarter. Mystic Asset Management Inc. now owns 19,819 shares of the oil and gas company’s stock valued at $3,100,000 after purchasing an additional 132 shares in the last quarter. Hanson & Doremus Investment Management lifted its stake in Chevron by 5.8% in the second quarter. Hanson & Doremus Investment Management now owns 4,431 shares of the oil and gas company’s stock worth $693,000 after acquiring an additional 242 shares during the period. Wilkins Investment Counsel Inc. grew its holdings in Chevron by 11.5% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 16,515 shares of the oil and gas company’s stock worth $2,583,000 after acquiring an additional 1,700 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in Chevron during the 2nd quarter valued at about $2,593,000. Finally, Vista Capital Partners Inc. raised its holdings in shares of Chevron by 4.1% in the 2nd quarter. Vista Capital Partners Inc. now owns 2,694 shares of the oil and gas company’s stock valued at $421,000 after purchasing an additional 106 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CVX shares. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank lowered their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Performance

Shares of CVX opened at $140.61 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a 50-day moving average of $149.12 and a two-hundred day moving average of $154.73. The stock has a market cap of $257.16 billion, a P/E ratio of 12.94, a P/E/G ratio of 2.37 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $171.70.

Chevron (NYSE:CVX) last released its earnings results 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 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 period last year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 11.63 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. 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.