NorthRock Partners LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

NorthRock Partners LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,862 shares of the oil and gas company’s stock after selling 1,787 shares during the quarter. NorthRock Partners LLC’s holdings in Chevron were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% in the second 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 during the period. Cyrus J. Lawrence LLC grew its holdings 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. Krane Funds Advisors LLC purchased a new stake in Chevron during the 3rd quarter worth $47,000. Finally, Livelsberger Financial Advisory acquired a new position in Chevron during the 3rd quarter worth approximately $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial increased their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

Shares of CVX stock traded up $0.27 during midday trading on Tuesday, reaching $154.24. 724,876 shares of the company were exchanged, compared to its average volume of 7,623,874. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market cap of $282.09 billion, a P/E ratio of 16.92, a PEG ratio of 3.39 and a beta of 1.09. The company’s 50 day moving average price is $147.07 and its two-hundred day moving average price is $152.91. 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 posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.05 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.7 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.23%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.