Abner Herrman & Brock LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Abner Herrman & Brock LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 0.3% during the third quarter, HoldingsChannel reports. The fund owned 89,778 shares of the oil and gas company’s stock after selling 291 shares during the period. Abner Herrman & Brock LLC’s holdings in Chevron were worth $13,222,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CWM LLC grew its stake in Chevron by 4.2% during the 3rd quarter. CWM LLC now owns 256,705 shares of the oil and gas company’s stock worth $37,805,000 after buying an additional 10,337 shares during the last quarter. Saxon Interests Inc. grew its position in shares of Chevron by 0.8% during the third quarter. Saxon Interests Inc. now owns 18,229 shares of the oil and gas company’s stock worth $2,685,000 after acquiring an additional 148 shares during the last quarter. Peddock Capital Advisors LLC increased its holdings in shares of Chevron by 0.5% in the 3rd quarter. Peddock Capital Advisors LLC now owns 61,525 shares of the oil and gas company’s stock valued at $9,061,000 after acquiring an additional 335 shares during the period. Tilia Fiduciary Partners Inc. raised its position in Chevron by 7.6% in the 3rd quarter. Tilia Fiduciary Partners Inc. now owns 1,895 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 134 shares during the last quarter. Finally, First PREMIER Bank grew its position in Chevron by 6.7% during the 3rd quarter. First PREMIER Bank now owns 7,500 shares of the oil and gas company’s stock worth $1,104,000 after purchasing an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of NYSE:CVX opened at $149.70 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The stock’s 50-day moving average price is $145.66 and its two-hundred day moving average price is $154.05. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market cap of $273.79 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.72 and a beta of 1.09.

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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts forecast that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday. Finally, UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.59.

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.