SFE Investment Counsel Sells 540 Shares of Chevron Co. (NYSE:CVX)

SFE Investment Counsel reduced its stake in Chevron Co. (NYSE:CVX) by 3.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,545 shares of the oil and gas company’s stock after selling 540 shares during the quarter. SFE Investment Counsel’s holdings in Chevron were worth $2,744,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in shares of Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after purchasing an additional 1,005 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after buying an additional 369 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC increased its position in shares of Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 4,047 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Chevron by 160.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 13,883 shares of the oil and gas company’s stock worth $2,071,000 after acquiring an additional 8,558 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada decreased their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Price Performance

NYSE CVX opened at $138.48 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $255.21 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. Chevron Co. has a 52 week low of $137.87 and a 52 week high of $171.70. The firm’s 50-day simple moving average is $150.82 and its two-hundred day simple moving average is $155.26.

Chevron (NYSE:CVX) last released 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 during the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business posted $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts predict that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.