Thoroughbred Financial Services LLC Sells 1,062 Shares of Chevron Co. (NYSE:CVX)

Thoroughbred Financial Services LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,988 shares of the oil and gas company’s stock after selling 1,062 shares during the period. Thoroughbred Financial Services LLC’s holdings in Chevron were worth $7,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its holdings in shares of Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares during the last quarter. Aveo Capital Partners LLC increased its position in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 82 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 4,047 shares during the last quarter. Fiera Capital Corp boosted its position in Chevron by 46.2% in the fourth quarter. Fiera Capital Corp now owns 11,396 shares of the oil and gas company’s stock valued at $1,700,000 after buying an additional 3,600 shares in the last quarter. Finally, First Heartland Consultants Inc. grew its stake in shares of Chevron by 12.8% during the fourth quarter. First Heartland Consultants Inc. now owns 4,354 shares of the oil and gas company’s stock worth $649,000 after buying an additional 494 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.0 %

NYSE:CVX opened at $140.61 on Friday. The firm has a fifty day simple moving average of $149.12 and a two-hundred day simple moving average of $154.72. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The stock has a market capitalization of $257.16 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.37 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

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). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.08 earnings per share. Analysts expect that Chevron Co. will post 11.63 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of brokerages have recently commented on CVX. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial dropped their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron 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.