KCM Investment Advisors LLC Lowers Position in Chevron Co. (NYSE:CVX)

KCM Investment Advisors LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 333,831 shares of the oil and gas company’s stock after selling 3,286 shares during the period. Chevron accounts for 1.7% of KCM Investment Advisors LLC’s portfolio, making the stock its 11th largest holding. KCM Investment Advisors LLC’s holdings in Chevron were worth $49,163,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CVX. Montz Harcus Wealth Management LLC boosted its stake in 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 valued at $460,000 after buying an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron by 0.7% during the 2nd 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 acquiring an additional 64 shares during the last quarter. Tacita Capital Inc grew its holdings in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares during the last quarter. Finally, S.A. Mason LLC raised its stake in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 0.2 %

CVX stock traded up $0.27 during mid-day trading on Friday, reaching $162.07. The company had a trading volume of 1,127,607 shares, compared to its average volume of 7,642,264. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $291.25 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. The firm has a 50 day moving average of $148.93 and a 200 day moving average of $152.71. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.05 EPS. On average, equities analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio is currently 71.65%.

About Chevron

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.