Taurus Asset Management LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Taurus Asset Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,137 shares of the oil and gas company’s stock after selling 166 shares during the period. Taurus Asset Management LLC’s holdings in Chevron were worth $1,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Richard C. Young & CO. LTD. raised its stake in Chevron by 2.7% in the third quarter. Richard C. Young & CO. LTD. now owns 101,084 shares of the oil and gas company’s stock valued at $14,887,000 after buying an additional 2,699 shares in the last quarter. Aljian Capital Management LLC raised its stake in Chevron by 29.4% in the third quarter. Aljian Capital Management LLC now owns 4,483 shares of the oil and gas company’s stock valued at $660,000 after buying an additional 1,018 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in Chevron by 2.8% in the third quarter. TrinityPoint Wealth LLC now owns 13,612 shares of the oil and gas company’s stock valued at $2,005,000 after buying an additional 371 shares in the last quarter. Glass Wealth Management Co LLC raised its stake in Chevron by 5.8% in the third quarter. Glass Wealth Management Co LLC now owns 24,929 shares of the oil and gas company’s stock valued at $3,671,000 after buying an additional 1,372 shares in the last quarter. Finally, Concord Asset Management LLC VA raised its stake in Chevron by 8.7% in the third quarter. Concord Asset Management LLC VA now owns 23,279 shares of the oil and gas company’s stock valued at $3,428,000 after buying an additional 1,871 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group lifted their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Performance

Shares of CVX stock opened at $161.42 on Monday. The stock has a market capitalization of $290.09 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s 50-day moving average price is $149.39 and its 200 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 announced its quarterly earnings data 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 company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a 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 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.