Affinity Capital Advisors LLC Sells 249 Shares of Chevron Co. (NYSE:CVX)

Affinity Capital Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,225 shares of the oil and gas company’s stock after selling 249 shares during the period. Affinity Capital Advisors LLC’s holdings in Chevron were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CVX. Berkshire Hathaway Inc grew its stake in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Wulff Hansen & CO. boosted its stake in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the period. Global Assets Advisory LLC acquired a new position in Chevron in the 1st quarter valued at $156,482,000. Finally, Confluence Investment Management LLC bought a new position in Chevron during the 1st quarter worth $123,681,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Scotiabank decreased 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 report on Friday, July 12th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reduced their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Chevron Stock Performance

Shares of Chevron stock opened at $151.14 on Tuesday. The company’s 50 day moving average price is $145.99 and its two-hundred day moving average price is $154.11. The firm has a market capitalization of $278.55 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

Chevron (NYSE:CVX) last issued its 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 firm had revenue of $51.18 billion during 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%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 EPS. On average, equities analysts forecast 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 paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 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.