Global Trust Asset Management LLC Lowers Position in Chevron Co. (NYSE:CVX)

Global Trust Asset Management LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,511 shares of the oil and gas company’s stock after selling 798 shares during the period. Global Trust Asset Management LLC’s holdings in Chevron were worth $959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Anfield Capital Management LLC increased its position in shares of Chevron by 118.0% during the 2nd 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 last quarter. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during 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. Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $47,000. Livelsberger Financial Advisory bought a new position in shares of Chevron during the 3rd quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron during the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Scotiabank reduced their price target 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 started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

Shares of CVX stock opened at $150.46 on Friday. The firm has a market cap of $275.18 billion, a P/E ratio of 14.90, a P/E/G ratio of 3.30 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The business’s 50 day moving average price is $146.44 and its 200-day moving average price is $153.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.08 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is presently 64.55%.

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.