Ledyard National Bank Sells 365 Shares of Chevron Co. (NYSE:CVX)

Ledyard National Bank reduced its position in Chevron Co. (NYSE:CVX) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,971 shares of the oil and gas company’s stock after selling 365 shares during the period. Ledyard National Bank’s holdings in Chevron were worth $1,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its stake 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 period. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter valued at approximately $47,000. Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron in the 1st quarter worth approximately $55,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Up 0.1 %

CVX opened at $150.84 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business has a 50 day simple moving average of $146.19 and a two-hundred day simple moving average of $153.55. The firm has a market capitalization of $275.87 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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 business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.08 EPS. Analysts predict that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 64.55%.

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.