Fiduciary Alliance LLC Cuts Holdings in Chevron Co. (NYSE:CVX)

Fiduciary Alliance LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 64.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,544 shares of the oil and gas company’s stock after selling 39,780 shares during the quarter. Fiduciary Alliance LLC’s holdings in Chevron were worth $3,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVX. American Capital Advisory LLC raised its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Anfield Capital Management LLC grew its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew 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 last quarter. Cooksen Wealth LLC purchased a new stake in Chevron during the 4th quarter valued at about $40,000. Finally, Vima LLC purchased a new stake in Chevron in the fourth quarter worth approximately $44,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX stock traded down $0.21 during trading on Monday, hitting $151.21. The company had a trading volume of 1,075,060 shares, compared to its average volume of 7,731,479. The firm has a market cap of $278.67 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The firm has a 50-day moving average price of $145.46 and a 200-day moving average price of $153.93. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company posted $3.08 EPS. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.81.

About Chevron

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.