Chevron Co. (NYSE:CVX) Shares Sold by Veracity Capital LLC

Veracity Capital LLC reduced its position in Chevron Co. (NYSE:CVX) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,564 shares of the oil and gas company’s stock after selling 252 shares during the quarter. Veracity Capital LLC’s holdings in Chevron were worth $672,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter worth $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron in the 1st quarter worth $55,000. Finally, Richardson Capital Management LLC acquired a new stake in shares of Chevron in the 1st quarter worth $58,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX opened at $150.75 on Friday. The stock has a 50-day simple moving average of $146.07 and a 200-day simple moving average of $153.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $277.83 billion, a PE ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. On average, analysts predict that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America assumed coverage on Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price objective for the company. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, UBS Group raised their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.