Chevron Co. (NYSE:CVX) Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. cut its stake in shares of Chevron Co. (NYSE:CVX) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,382 shares of the oil and gas company’s stock after selling 410 shares during the quarter. Verity Asset Management Inc.’s holdings in Chevron were worth $1,236,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Chevron in the first quarter worth $566,000. Embree Financial Group boosted its position in shares of Chevron by 4.5% in the first quarter. Embree Financial Group now owns 9,528 shares of the oil and gas company’s stock worth $1,503,000 after buying an additional 409 shares during the period. Integris Wealth Management LLC boosted its position in shares of Chevron by 1.9% in the first quarter. Integris Wealth Management LLC now owns 5,567 shares of the oil and gas company’s stock worth $878,000 after buying an additional 102 shares during the period. Signaturefd LLC boosted its position in shares of Chevron by 2.6% in the first quarter. Signaturefd LLC now owns 26,475 shares of the oil and gas company’s stock worth $4,176,000 after buying an additional 664 shares during the period. Finally, Richardson Financial Services Inc. boosted its position in shares of Chevron by 4.8% in the first quarter. Richardson Financial Services Inc. now owns 2,067 shares of the oil and gas company’s stock worth $326,000 after buying an additional 95 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

NYSE CVX opened at $156.73 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s 50-day moving average is $147.43 and its two-hundred day moving average is $152.90. The firm has a market cap of $286.65 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 3.43 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s payout ratio is presently 71.65%.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday. Finally, Truist Financial lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.