Financial Management Professionals Inc. Sells 123 Shares of Chevron Co. (NYSE:CVX)

Financial Management Professionals Inc. cut its stake in Chevron Co. (NYSE:CVX) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,438 shares of the oil and gas company’s stock after selling 123 shares during the period. Financial Management Professionals Inc.’s holdings in Chevron were worth $948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pullen Investment Management LLC grew its position in Chevron by 1.5% in the third quarter. Pullen Investment Management LLC now owns 17,667 shares of the oil and gas company’s stock worth $2,602,000 after acquiring an additional 266 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Chevron by 10.6% in the third quarter. Capital Advisors Ltd. LLC now owns 1,784 shares of the oil and gas company’s stock worth $263,000 after acquiring an additional 171 shares in the last quarter. Manchester Financial Inc. grew its position in Chevron by 3.7% in the third quarter. Manchester Financial Inc. now owns 2,589 shares of the oil and gas company’s stock worth $381,000 after acquiring an additional 93 shares in the last quarter. Amarillo National Bank grew its position in Chevron by 54.8% in the third quarter. Amarillo National Bank now owns 4,471 shares of the oil and gas company’s stock worth $658,000 after acquiring an additional 1,582 shares in the last quarter. Finally, Kavar Capital Partners Group LLC grew its position in Chevron by 5.3% in the third quarter. Kavar Capital Partners Group LLC now owns 20,699 shares of the oil and gas company’s stock worth $3,048,000 after acquiring an additional 1,037 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, UBS Group upped their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

CVX stock opened at $150.81 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market cap of $277.94 billion, a P/E ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The firm has a 50-day moving average of $146.59 and a 200 day moving average of $153.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

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.