New York State Teachers Retirement System lowered its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,570,943 shares of the oil and gas company’s stock after selling 82,780 shares during the period. New York State Teachers Retirement System’s holdings in Chevron were worth $231,353,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new stake in Chevron during the third quarter worth about $82,000. GSB Wealth Management LLC boosted its stake in Chevron by 8.2% during the third quarter. GSB Wealth Management LLC now owns 20,115 shares of the oil and gas company’s stock worth $2,962,000 after acquiring an additional 1,517 shares in the last quarter. Trajan Wealth LLC boosted its stake in Chevron by 20.4% during the third quarter. Trajan Wealth LLC now owns 31,195 shares of the oil and gas company’s stock worth $4,594,000 after acquiring an additional 5,282 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Finally, Mutual Advisors LLC boosted its stake in Chevron by 1.6% during the third quarter. Mutual Advisors LLC now owns 88,549 shares of the oil and gas company’s stock worth $13,322,000 after acquiring an additional 1,396 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on CVX. Mizuho dropped their price objective 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. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.07.
Chevron Stock Down 0.3 %
Shares of Chevron stock opened at $148.06 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $270.79 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $146.79 and its 200 day moving average is $153.04.
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 10.86 EPS for the current year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued 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 4.40%. Chevron’s dividend payout ratio is currently 64.55%.
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.
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