Principal Street Partners LLC Sells 8,051 Shares of Chevron Co. (NYSE:CVX)

Principal Street Partners LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,602 shares of the oil and gas company’s stock after selling 8,051 shares during the quarter. Principal Street Partners LLC’s holdings in Chevron were worth $5,574,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Covington Investment Advisors Inc. raised its holdings in shares of Chevron by 1.5% during the third quarter. Covington Investment Advisors Inc. now owns 60,232 shares of the oil and gas company’s stock valued at $8,870,000 after acquiring an additional 897 shares in the last quarter. Quantbot Technologies LP raised its stake in Chevron by 699.1% in the third quarter. Quantbot Technologies LP now owns 123,436 shares of the oil and gas company’s stock worth $18,178,000 after buying an additional 107,989 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Chevron by 2.5% in the third quarter. D.A. Davidson & CO. now owns 368,777 shares of the oil and gas company’s stock worth $54,310,000 after buying an additional 8,990 shares during the period. Summit Financial Wealth Advisors LLC boosted its position in Chevron by 9.9% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 30,846 shares of the oil and gas company’s stock valued at $4,543,000 after acquiring an additional 2,773 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in Chevron during the 3rd quarter valued at approximately $4,596,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. Royal Bank of Canada upped their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group increased their price target 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. Scotiabank lowered their price objective 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.56.

Chevron Stock Up 0.8 %

Chevron stock opened at $161.63 on Tuesday. The stock has a 50 day moving average of $151.94 and a two-hundred day moving average of $152.51. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market capitalization of $290.46 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 3.58 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.03%. Chevron’s dividend payout ratio (DPR) is 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.