Chevron Co. (NYSE:CVX) Position Lessened by Telos Capital Management Inc.

Telos Capital Management Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,801 shares of the oil and gas company’s stock after selling 2,385 shares during the quarter. Chevron comprises approximately 1.5% of Telos Capital Management Inc.’s holdings, making the stock its 15th largest position. Telos Capital Management Inc.’s holdings in Chevron were worth $14,550,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVX. Pacifica Partners Inc. boosted its stake in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC boosted its position in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC grew its stake in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted its stake in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho lowered their target price 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. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Shares of CVX opened at $150.84 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. 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 $275.87 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.73 and a beta of 1.09. The company has a 50 day moving average of $146.19 and a 200-day moving average of $153.55.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Announces Dividend

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