Chevron Co. (NYSE:CVX) Shares Sold by Regal Partners Ltd

Regal Partners Ltd lessened its position in Chevron Co. (NYSE:CVX) by 70.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,111 shares of the oil and gas company’s stock after selling 19,296 shares during the quarter. Regal Partners Ltd’s holdings in Chevron were worth $1,195,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC acquired a new position in Chevron in the third quarter valued at approximately $29,000. Anfield Capital Management LLC raised its position 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 lifted its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the 3rd quarter worth $47,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. UBS Group increased their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 2.2 %

NYSE:CVX opened at $158.69 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market cap of $285.18 billion, a P/E ratio of 17.44, a P/E/G ratio of 3.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50-day simple moving average of $148.18 and a 200-day simple moving average of $152.61.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

About Chevron

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.