Chevron Co. (NYSE:CVX) Holdings Lowered by Nemes Rush Group LLC

Nemes Rush Group LLC cut its stake in Chevron Co. (NYSE:CVX) by 10.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,093 shares of the oil and gas company’s stock after selling 804 shares during the period. Nemes Rush Group LLC’s holdings in Chevron were worth $1,109,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. American Capital Advisory LLC boosted its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $30,000. 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 valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% during the second 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 period. Finally, Cooksen Wealth LLC bought a new stake in Chevron in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 2.5 %

CVX stock opened at $145.49 on Friday. The company has a 50 day moving average of $146.63 and a two-hundred day moving average of $154.31. The company has a market cap of $268.13 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.68 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

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 return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.24.

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.