Chevron Co. (NYSE:CVX) Stock Position Decreased by Jmac Enterprises LLC

Jmac Enterprises LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,632 shares of the oil and gas company’s stock after selling 633 shares during the period. Jmac Enterprises LLC’s holdings in Chevron were worth $1,713,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $29,000. Anfield Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the 2nd 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 in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Chevron during the third quarter worth $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the third quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

Shares of CVX stock opened at $157.35 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $147.43 and a 200-day moving average of $152.90. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $287.78 billion, a P/E ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share 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 company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.05 EPS. Sell-side analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned 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 $174.93.

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.