Ballentine Partners LLC Sells 2,090 Shares of Chevron Co. (NYSE:CVX)

Ballentine Partners LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,644 shares of the oil and gas company’s stock after selling 2,090 shares during the period. Ballentine Partners LLC’s holdings in Chevron were worth $4,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its position in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC bought a new stake in shares of Chevron during the first quarter worth $345,000. Seven Mile Advisory increased its stake in shares of Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 247 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in Chevron during the 4th quarter worth about $46,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.7 %

CVX traded down $2.37 during mid-day trading on Friday, hitting $138.56. The stock had a trading volume of 7,836,358 shares, compared to its average volume of 6,195,833. The stock’s fifty day simple moving average is $150.82 and its 200-day simple moving average is $155.26. The firm has a market capitalization of $253.42 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. Chevron Co. has a 1-year low of $137.87 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. 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 previous year, the business posted $3.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.71%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

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.