Verum Partners LLC Sells 179 Shares of Chevron Co. (NYSE:CVX)

Verum Partners LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 7.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,171 shares of the oil and gas company’s stock after selling 179 shares during the period. Verum Partners LLC’s holdings in Chevron were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter worth approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in Chevron during the 3rd quarter valued at $35,000. Finally, Worth Asset Management LLC bought a new position in shares of Chevron during the 1st quarter valued at $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock traded up $1.76 on Thursday, hitting $158.11. 4,733,094 shares of the company traded hands, compared to its average volume of 8,712,957. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The business has a 50-day simple moving average of $151.34 and a 200 day simple moving average of $152.65. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88. The stock has a market capitalization of $293.65 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.09 EPS. Research analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.12%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

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.