Chevron Co. (NYSE:CVX) Shares Sold by Verum Partners LLC

Verum Partners LLC lowered its stake in Chevron Co. (NYSE:CVX) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,361 shares of the oil and gas company’s stock after selling 78 shares during the quarter. Verum Partners LLC’s holdings in Chevron were worth $348,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new stake in Chevron in the first quarter valued at $345,000. KCM Investment Advisors LLC lifted its stake in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the last quarter. Hosking Partners LLP purchased a new position in shares of Chevron during the 1st quarter worth $4,924,000. Finally, Garner Asset Management Corp increased its position in shares of Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, 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 research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.81.

Chevron Stock Up 0.6 %

CVX stock traded up $0.89 during trading on Wednesday, reaching $148.62. The stock had a trading volume of 461,457 shares, compared to its average volume of 7,705,692. 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 Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The firm has a fifty day moving average price of $145.70 and a 200 day moving average price of $153.82. The company has a market capitalization of $273.90 billion, a P/E ratio of 13.59, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly 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). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Chevron 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.