Coastline Trust Co Lowers Holdings in Chevron Co. (NYSE:CVX)

Coastline Trust Co lowered its holdings in Chevron Co. (NYSE:CVX) by 24.7% during the third quarter, Holdings Channel.com reports. The firm owned 17,858 shares of the oil and gas company’s stock after selling 5,855 shares during the period. Coastline Trust Co’s holdings in Chevron were worth $2,630,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Marietta Wealth Management LLC raised its stake in shares of Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC lifted its stake in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares in the last quarter. RPG Investment Advisory LLC boosted its position in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the period. Garner Asset Management Corp grew its stake in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Chevron by 3.2% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after buying an additional 3,561 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.2 %

CVX stock opened at $161.42 on Friday. The stock has a market cap of $290.09 billion, a P/E ratio of 17.74, a PEG ratio of 3.57 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company’s 50 day moving average is $149.39 and its two-hundred day moving average is $152.68.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the business earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Truist Financial lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

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; 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.