Chevron Co. (NYSE:CVX) Stake Cut by Spirit of America Management Corp NY

Spirit of America Management Corp NY lowered its stake in Chevron Co. (NYSE:CVX) by 3.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,590 shares of the oil and gas company’s stock after selling 3,000 shares during the quarter. Chevron makes up about 2.4% of Spirit of America Management Corp NY’s holdings, making the stock its 5th biggest position. Spirit of America Management Corp NY’s holdings in Chevron were worth $11,868,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Anfield Capital Management LLC lifted its stake in shares of 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 purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the 3rd quarter worth $47,000. Krane Funds Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Chevron during the 1st quarter worth $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Five 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 presently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Trading Down 0.0 %

NYSE:CVX opened at $150.46 on Friday. The business’s 50-day moving average is $146.44 and its two-hundred day moving average is $153.45. 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 Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm has a market capitalization of $275.18 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last released 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the business earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm 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 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 64.55%.

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.