Clarus Group Inc. Sells 1,163 Shares of Chevron Co. (NYSE:CVX)

Clarus Group Inc. decreased its stake in shares of Chevron Co. (NYSE:CVX) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,145 shares of the oil and gas company’s stock after selling 1,163 shares during the quarter. Chevron makes up 1.0% of Clarus Group Inc.’s portfolio, making the stock its 15th largest position. Clarus Group Inc.’s holdings in Chevron were worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Selective Wealth Management Inc. bought a new stake in shares of Chevron in the 1st quarter valued at about $216,000. &PARTNERS raised its holdings in shares of Chevron by 66.9% in the 1st quarter. &PARTNERS now owns 22,692 shares of the oil and gas company’s stock valued at $3,579,000 after purchasing an additional 9,096 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Chevron by 4.7% in the 1st quarter. Douglas Lane & Associates LLC now owns 450,594 shares of the oil and gas company’s stock valued at $71,077,000 after purchasing an additional 20,100 shares in the last quarter. Bangor Savings Bank raised its holdings in shares of Chevron by 4.4% in the 1st quarter. Bangor Savings Bank now owns 18,774 shares of the oil and gas company’s stock valued at $2,961,000 after purchasing an additional 789 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its position in Chevron by 7.8% during the 1st quarter. Salem Investment Counselors Inc. now owns 33,608 shares of the oil and gas company’s stock worth $5,301,000 after purchasing an additional 2,442 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded down $0.06 during trading hours on Monday, reaching $150.69. The stock had a trading volume of 1,792,992 shares, compared to its average volume of 7,677,709. The stock’s 50 day moving average is $146.07 and its 200 day moving average is $153.62. The firm has a market capitalization of $277.72 billion, a PE ratio of 13.94, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the company posted $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.