Chevron Co. (NYSE:CVX) Shares Sold by St. Johns Investment Management Company LLC

by · The Markets Daily

St. Johns Investment Management Company LLC lessened its stake in Chevron Co. (NYSE:CVX – Free Report) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,939 shares of the oil and gas company’s stock after selling 119 shares during the period. St. Johns Investment Management Company LLC’s holdings in Chevron were worth $1,169,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Norwood Financial Corp increased its holdings in Chevron by 18.6% in the 1st quarter. Norwood Financial Corp now owns 1,530 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 240 shares during the last quarter. Tevis Investment Management grew its stake in shares of Chevron by 21.3% in the first quarter. Tevis Investment Management now owns 9,081 shares of the oil and gas company’s stock worth $1,432,000 after acquiring an additional 1,595 shares in the last quarter. Firethorn Wealth Partners LLC grew its stake in shares of Chevron by 41.6% in the first quarter. Firethorn Wealth Partners LLC now owns 3,759 shares of the oil and gas company’s stock worth $593,000 after acquiring an additional 1,105 shares in the last quarter. Sawyer & Company Inc grew its stake in shares of Chevron by 7.0% in the first quarter. Sawyer & Company Inc now owns 11,598 shares of the oil and gas company’s stock worth $1,829,000 after acquiring an additional 758 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its stake in shares of Chevron by 6.5% in the first quarter. Financial Management Professionals Inc. now owns 6,218 shares of the oil and gas company’s stock worth $981,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $150.81 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $277.94 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. 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 firm has a fifty day moving average price of $146.59 and a 200 day moving average price of $153.30.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the firm earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVX shares. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Mizuho dropped their price target 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. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

View Our Latest Report on Chevron

About Chevron

(Free Report)

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.

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