Brooklyn Investment Group Sells 3,516 Shares of Chevron Co. (NYSE:CVX)

Brooklyn Investment Group trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 49.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,537 shares of the oil and gas company's stock after selling 3,516 shares during the quarter. Brooklyn Investment Group's holdings in Chevron were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. China Universal Asset Management Co. Ltd. bought a new position in shares of Chevron during the first quarter worth about $566,000. Kennedy Capital Management LLC bought a new position in shares of Chevron during the first quarter worth about $5,563,000. Creekmur Asset Management LLC raised its position in shares of Chevron by 13.5% during the first quarter. Creekmur Asset Management LLC now owns 880 shares of the oil and gas company's stock worth $139,000 after acquiring an additional 105 shares during the last quarter. Tidal Investments LLC raised its position in shares of Chevron by 35.2% during the first quarter. Tidal Investments LLC now owns 158,849 shares of the oil and gas company's stock worth $25,042,000 after acquiring an additional 41,370 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Chevron during the first quarter worth about $2,613,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday. Royal Bank of Canada lifted their target price on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a "buy" rating and a $168.00 target price for the company. Truist Financial lifted their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Finally, Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.56.

Chevron Stock Performance

CVX stock traded up $2.14 during midday trading on Tuesday, hitting $162.50. The company's stock had a trading volume of 7,369,517 shares, compared to its average volume of 7,662,178. The stock's 50-day moving average price is $151.94 and its 200 day moving average price is $152.51. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. 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 $292.03 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 3.58 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.01%. Chevron's dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company's stock.

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.