Prudent Man Advisors LLC Sells 176 Shares of Chevron Co. (NYSE:CVX)

Prudent Man Advisors LLC lessened its stake in Chevron Co. (NYSE:CVX) by 2.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,191 shares of the oil and gas company’s stock after selling 176 shares during the quarter. Prudent Man Advisors LLC’s holdings in Chevron were worth $1,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of 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 buying an additional 3,876,731 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after buying an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. raised its position in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares during the last quarter. Finally, Capital International Investors lifted its stake in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Scotiabank lowered their price target 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. 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 note on Monday, November 4th. Finally, Truist Financial lifted their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research 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. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Price Performance

NYSE:CVX opened at $161.42 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $290.09 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. The stock’s 50 day moving average price is $149.39 and its two-hundred day moving average price is $152.57. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

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.