Verum Partners LLC Sells 179 Shares of Chevron Co. (NYSE:CVX)

Verum Partners LLC decreased its position in Chevron Co. (NYSE:CVX) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,171 shares of the oil and gas company’s stock after selling 179 shares during the period. Verum Partners LLC’s holdings in Chevron were worth $324,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management bought a new position in Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $33,000. DHJJ Financial Advisors Ltd. bought a new position in Chevron during the third quarter worth about $35,000. Finally, Worth Asset Management LLC acquired a new position in shares of Chevron during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Price Performance

Shares of CVX traded up $1.76 during trading hours on Thursday, reaching $158.11. The stock had a trading volume of 4,733,094 shares, compared to its average volume of 8,712,957. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The stock has a market capitalization of $293.65 billion, a PE ratio of 13.86, a PEG ratio of 2.38 and a beta of 1.12. The company’s 50-day moving average is $151.34 and its two-hundred day moving average is $152.65.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $4.09 earnings per share. Research analysts expect that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron’s payout ratio is presently 57.39%.

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.