Crescent Sterling Ltd. Sells 442 Shares of Chevron Co. (NYSE:CVX)

Crescent Sterling Ltd. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,993 shares of the oil and gas company’s stock after selling 442 shares during the period. Chevron comprises approximately 3.8% of Crescent Sterling Ltd.’s portfolio, making the stock its 6th largest position. Crescent Sterling Ltd.’s holdings in Chevron were worth $3,975,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its position in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the period. Capital World Investors boosted its position in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc boosted its position in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Capital International Investors boosted its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company dropped their price objective 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, Truist Financial dropped their price objective 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. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $176.81.

Chevron Trading Down 2.7 %

NYSE:CVX opened at $147.73 on Wednesday. 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 firm has a market cap of $272.26 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The firm has a 50-day moving average price of $145.70 and a two-hundred day moving average price of $153.82.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate 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 net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.08 EPS. On average, equities analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.