JBR Co Financial Management Inc Sells 145 Shares of Chevron Co. (NYSE:CVX)

JBR Co Financial Management Inc decreased its holdings in Chevron Co. (NYSE:CVX) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 29,921 shares of the oil and gas company’s stock after selling 145 shares during the quarter. Chevron accounts for 3.3% of JBR Co Financial Management Inc’s investment portfolio, making the stock its 5th biggest holding. JBR Co Financial Management Inc’s holdings in Chevron were worth $4,680,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in Chevron by 4.9% during the fourth quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after purchasing an additional 1,005 shares during the period. Sapient Capital LLC purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $40,362,000. Valeo Financial Advisors LLC boosted its holdings in Chevron by 13.1% in the 4th quarter. Valeo Financial Advisors LLC now owns 48,292 shares of the oil and gas company’s stock worth $7,203,000 after buying an additional 5,580 shares during the period. Sutton Place Investors LLC purchased a new position in Chevron in the 4th quarter valued at approximately $1,895,000. Finally, Wealth Effects LLC lifted its position in shares of Chevron by 42.0% during the fourth quarter. Wealth Effects LLC now owns 16,995 shares of the oil and gas company’s stock worth $2,535,000 after acquiring an additional 5,026 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock traded down $0.87 during trading hours on Tuesday, hitting $144.15. 7,765,779 shares of the company’s stock were exchanged, compared to its average volume of 7,912,133. The company has a market capitalization of $265.66 billion, a PE ratio of 13.23, a PEG ratio of 2.33 and a beta of 1.10. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The business’s 50 day simple moving average is $154.62 and its 200-day simple moving average is $156.11.

Chevron (NYSE:CVX) last issued its earnings results 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). Chevron had a return on equity of 13.64% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 12.3 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.52%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Truist Financial decreased their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.