KCM Investment Advisors LLC Sells 3,286 Shares of Chevron Co. (NYSE:CVX)

KCM Investment Advisors LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,831 shares of the oil and gas company’s stock after selling 3,286 shares during the quarter. Chevron comprises 1.7% of KCM Investment Advisors LLC’s holdings, making the stock its 11th largest holding. KCM Investment Advisors LLC’s holdings in Chevron were worth $49,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in shares of Chevron during the third quarter valued at about $29,000. Anfield Capital Management LLC increased its stake 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 valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter worth $47,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.27 during trading on Friday, reaching $162.07. 1,127,607 shares of the company’s stock traded hands, compared to its average volume of 7,642,264. The firm has a market cap of $291.25 billion, a PE ratio of 17.77, a P/E/G ratio of 3.57 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $148.93 and a 200-day simple moving average of $152.71.

Chevron (NYSE:CVX) last posted 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 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.93.

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.