Baker Avenue Asset Management LP Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Baker Avenue Asset Management LP lowered its position in shares of Chevron Co. (NYSE:CVX) by 4.3% during the third quarter, Holdings Channel reports. The fund owned 29,951 shares of the oil and gas company’s stock after selling 1,354 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Chevron were worth $4,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake 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 acquired a new position in shares of Chevron during the third quarter worth about $47,000. Finally, Livelsberger Financial Advisory acquired a new position in Chevron during the third quarter worth approximately $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVX shares. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Up 0.1 %

NYSE CVX traded up $0.16 during trading on Friday, reaching $156.93. 6,041,457 shares of the company’s stock were exchanged, compared to its average volume of 6,615,985. The company has a 50 day moving average price of $147.80 and a two-hundred day moving average price of $152.89. The stock has a market cap of $287.01 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 3.51 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.