Oakworth Capital Inc. Sells 422 Shares of Chevron Co. (NYSE:CVX)

Oakworth Capital Inc. cut its stake in Chevron Co. (NYSE:CVX) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,472 shares of the oil and gas company’s stock after selling 422 shares during the quarter. Oakworth Capital Inc.’s holdings in Chevron were worth $2,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors increased its stake in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc increased its stake in Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Capital International Investors increased its stake in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.2 %

NYSE CVX opened at $150.63 on Tuesday. The company has a market cap of $277.61 billion, a PE ratio of 13.91, a PEG ratio of 2.73 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a 50 day moving average of $146.19 and a 200-day moving average of $153.55.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. 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 note on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.