Davidson Investment Advisors Trims Stock Position in Chevron Co. (NYSE:CVX)

Davidson Investment Advisors lessened its position in Chevron Co. (NYSE:CVX) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,656 shares of the oil and gas company’s stock after selling 1,044 shares during the quarter. Chevron accounts for approximately 2.6% of Davidson Investment Advisors’ portfolio, making the stock its 6th largest holding. Davidson Investment Advisors’ holdings in Chevron were worth $40,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. HBC Financial Services PLLC purchased a new stake in Chevron during the first quarter valued at about $37,000. Worth Asset Management LLC purchased a new stake in Chevron during the first quarter valued at about $36,000. Tobam purchased a new stake in Chevron during the first quarter valued at about $38,000. Operose Advisors LLC boosted its holdings in shares of Chevron by 80.0% during the first quarter. Operose Advisors LLC now owns 234 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 104 shares during the period. Finally, Nvwm LLC boosted its holdings in shares of Chevron by 73.8% during the first quarter. Nvwm LLC now owns 252 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 107 shares during the period. Institutional investors own 68.87% of the company’s stock.

Chevron Stock Up 0.4 %

Shares of NYSE CVX traded up $0.61 on Monday, reaching $145.07. 3,594,691 shares of the company’s stock traded hands, compared to its average volume of 8,360,275. Chevron Co. has a 12 month low of $140.74 and a 12 month high of $187.81. The business’s 50 day simple moving average is $158.68 and its two-hundred day simple moving average is $158.22. The company has a market cap of $273.86 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.65). The firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. Chevron’s revenue was down 18.9% on a year-over-year basis. During the same period last year, the business earned $5.56 EPS. As a group, equities research analysts forecast that Chevron Co. will post 13.59 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is currently 44.84%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Mizuho dropped their target price on shares of Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, November 14th. UBS Group increased their target price on shares of Chevron from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $166.00 to $187.00 in a report on Monday, July 31st. StockNews.com started coverage on shares of Chevron in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Truist Financial lowered their price objective on shares of Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.89.

Chevron 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.