Veracity Capital LLC Reduces Holdings in Chevron Co. (NYSE:CVX)

Veracity Capital LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at $47,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron during the first quarter valued at $55,000. Finally, Richardson Capital Management LLC purchased a new stake in shares of Chevron during the first quarter valued at $58,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.3 %

Chevron stock opened at $150.75 on Friday. 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 12 month low of $135.37 and a 12 month high of $170.17. The stock’s 50 day simple moving average is $146.07 and its two-hundred day simple moving average is $153.66. The firm has a market cap of $277.83 billion, a PE ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its 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 net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVX shares. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Truist Financial reduced their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Barclays cut their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.