Farmers & Merchants Investments Inc. Sells 1,413 Shares of Chevron Co. (NYSE:CVX)

Farmers & Merchants Investments Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,660 shares of the oil and gas company’s stock after selling 1,413 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Chevron were worth $17,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. MONECO Advisors LLC raised its position in shares of Chevron by 2.2% in the 3rd quarter. MONECO Advisors LLC now owns 18,792 shares of the oil and gas company’s stock worth $2,767,000 after acquiring an additional 409 shares in the last quarter. MBA Advisors LLC boosted its position in shares of Chevron by 6.4% during the 3rd quarter. MBA Advisors LLC now owns 6,232 shares of the oil and gas company’s stock valued at $918,000 after purchasing an additional 377 shares in the last quarter. Fortitude Family Office LLC grew its stake in Chevron by 166.4% during the third quarter. Fortitude Family Office LLC now owns 5,278 shares of the oil and gas company’s stock worth $777,000 after purchasing an additional 3,297 shares during the period. Barry Investment Advisors LLC increased its holdings in Chevron by 4.4% in the third quarter. Barry Investment Advisors LLC now owns 4,275 shares of the oil and gas company’s stock worth $630,000 after purchasing an additional 181 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Chevron by 131.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,291 shares of the oil and gas company’s stock valued at $926,000 after buying an additional 3,573 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVX. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. UBS Group raised 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. Barclays dropped their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Finally, Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Down 1.3 %

Shares of Chevron stock opened at $148.55 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $146.74 and a 200 day simple moving average of $153.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market capitalization of $271.69 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 3.29 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 the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid 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 dividend yield of 4.39%. Chevron’s payout ratio is presently 64.55%.

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.