Regal Partners Ltd Has $1.20 Million Holdings in Chevron Co. (NYSE:CVX)

Regal Partners Ltd reduced its position in Chevron Co. (NYSE:CVX - Free Report) by 70.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,111 shares of the oil and gas company's stock after selling 19,296 shares during the period. Regal Partners Ltd's holdings in Chevron were worth $1,195,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Montz Harcus Wealth Management LLC lifted its holdings in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company's stock worth $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its position in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company's stock worth $1,485,000 after purchasing an additional 64 shares during the period. Tacita Capital Inc raised its holdings in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock worth $67,000 after purchasing an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its position in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock valued at $2,911,000 after purchasing an additional 67 shares during the period. Finally, S.A. Mason LLC boosted its stake in shares of Chevron by 0.7% in the 3rd 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 during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price 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. Royal Bank of Canada boosted their target price on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $174.93.

Chevron Stock Performance

CVX traded up $3.05 during trading hours on Thursday, reaching $161.77. The company's stock had a trading volume of 10,109,259 shares, compared to its average volume of 7,671,717. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company's 50-day moving average is $148.51 and its 200-day moving average is $152.65. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market cap of $290.72 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 3.49 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.05 EPS. On average, equities analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. Chevron's dividend payout ratio is presently 71.65%.

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.