Abner Herrman & Brock LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Abner Herrman & Brock LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,778 shares of the oil and gas company’s stock after selling 291 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Chevron were worth $13,222,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Chevron by 4.2% during the 3rd quarter. CWM LLC now owns 256,705 shares of the oil and gas company’s stock worth $37,805,000 after purchasing an additional 10,337 shares during the last quarter. Saxon Interests Inc. lifted its stake in shares of Chevron by 0.8% in the third quarter. Saxon Interests Inc. now owns 18,229 shares of the oil and gas company’s stock worth $2,685,000 after buying an additional 148 shares in the last quarter. Peddock Capital Advisors LLC boosted its position in Chevron by 0.5% during the third quarter. Peddock Capital Advisors LLC now owns 61,525 shares of the oil and gas company’s stock worth $9,061,000 after acquiring an additional 335 shares during the last quarter. Tilia Fiduciary Partners Inc. grew its stake in Chevron by 7.6% during the 3rd quarter. Tilia Fiduciary Partners Inc. now owns 1,895 shares of the oil and gas company’s stock valued at $279,000 after acquiring an additional 134 shares in the last quarter. Finally, First PREMIER Bank raised its holdings in Chevron by 6.7% in the 3rd quarter. First PREMIER Bank now owns 7,500 shares of the oil and gas company’s stock valued at $1,104,000 after acquiring an additional 473 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. UBS Group upped their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Stock Performance

NYSE:CVX opened at $149.70 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The company has a fifty day simple moving average of $145.66 and a two-hundred day simple moving average of $154.05. 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 market cap of $273.79 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.36%. Chevron’s payout ratio is 59.98%.

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.