Nicholas Hoffman & Company LLC. Trims Stock Position in Chevron Co. (NYSE:CVX)

Nicholas Hoffman & Company LLC. decreased its position in Chevron Co. (NYSE:CVX) by 5.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,284 shares of the oil and gas company’s stock after selling 1,081 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Chevron were worth $2,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Chevron in the 3rd quarter valued at about $47,000. Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron in the 1st quarter worth approximately $55,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Barclays reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Down 1.3 %

Shares of CVX stock opened at $148.55 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $271.69 billion, a PE ratio of 14.71, a P/E/G ratio of 3.29 and a beta of 1.09. The stock’s 50-day simple moving average is $146.74 and its 200-day simple moving average is $153.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business 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 period in the prior year, the business posted $3.08 earnings per share. Equities analysts expect that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.39%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 64.55%.

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.