Verum Partners LLC Raises Position in Chevron Co. (NYSE:CVX)

Verum Partners LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,945 shares of the oil and gas company’s stock after purchasing an additional 222 shares during the quarter. Verum Partners LLC’s holdings in Chevron were worth $493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TFB Advisors LLC increased its stake in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. grew its holdings in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after purchasing an additional 66 shares during the period. Parkside Financial Bank & Trust grew its holdings in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after purchasing an additional 66 shares during the period. Berkeley Capital Partners LLC increased its position in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its stake in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 2.4%

Shares of NYSE:CVX opened at $140.21 on Friday. The company has a market capitalization of $244.86 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a 50 day moving average of $138.98 and a two-hundred day moving average of $149.81. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the business earned $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. Chevron’s dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Company 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.