Chevron Co. (NYSE:CVX) Stock Holdings Lowered by Brooklyn Investment Group

Brooklyn Investment Group trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 49.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,537 shares of the oil and gas company’s stock after selling 3,516 shares during the period. Brooklyn Investment Group’s holdings in Chevron were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Covington Investment Advisors Inc. increased its position in shares of Chevron by 1.5% during the 3rd quarter. Covington Investment Advisors Inc. now owns 60,232 shares of the oil and gas company’s stock valued at $8,870,000 after purchasing an additional 897 shares during the period. Quantbot Technologies LP boosted its position in shares of Chevron by 699.1% in the third quarter. Quantbot Technologies LP now owns 123,436 shares of the oil and gas company’s stock worth $18,178,000 after buying an additional 107,989 shares during the period. D.A. Davidson & CO. lifted its stake in Chevron by 2.5% in the 3rd quarter. D.A. Davidson & CO. now owns 368,777 shares of the oil and gas company’s stock worth $54,310,000 after acquiring an additional 8,990 shares in the last quarter. Summit Financial Wealth Advisors LLC grew its stake in Chevron by 9.9% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 30,846 shares of the oil and gas company’s stock valued at $4,543,000 after acquiring an additional 2,773 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Chevron in the 3rd quarter worth approximately $4,596,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. UBS Group boosted their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.56.

Chevron Stock Up 1.0 %

Shares of NYSE CVX opened at $161.90 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s 50-day moving average is $151.94 and its 200-day moving average is $152.51. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $290.95 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.