Chevron Co. (NYSE:CVX) Stock Holdings Lowered by Means Investment CO. Inc.

Means Investment CO. Inc. cut its position in Chevron Co. (NYSE:CVX) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,673 shares of the oil and gas company’s stock after selling 433 shares during the quarter. Chevron comprises 0.9% of Means Investment CO. Inc.’s holdings, making the stock its 22nd biggest position. Means Investment CO. Inc.’s holdings in Chevron were worth $8,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Anfield Capital Management LLC boosted its position 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 period. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron in the third quarter worth about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron during the 1st quarter valued at about $55,000. Finally, Richardson Capital Management LLC acquired a new position in Chevron during the 1st quarter valued at about $58,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Truist Financial lowered 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. Finally, UBS Group upped their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Down 0.3 %

CVX stock opened at $150.75 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $277.83 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 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 company’s 50 day simple moving average is $146.07 and its 200-day simple moving average is $153.66.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s payout ratio is presently 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.