Affinity Capital Advisors LLC Sells 249 Shares of Chevron Co. (NYSE:CVX)

Affinity Capital Advisors LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,225 shares of the oil and gas company’s stock after selling 249 shares during the period. Affinity Capital Advisors LLC’s holdings in Chevron were worth $622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Pacifica Partners Inc. grew its stake in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC grew its position in Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC grew its position in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised its position in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.3 %

CVX stock opened at $151.14 on Tuesday. The company has a market cap of $278.55 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 2.72 and a beta of 1.09. The firm has a 50-day moving average of $145.99 and a two-hundred day moving average of $154.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. 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 (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. As a group, analysts forecast that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group cut their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada cut their price target 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. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $179.00.

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.