Saxony Capital Management LLC Sells 142 Shares of Chevron Co. (NYSE:CVX)

Saxony Capital Management LLC trimmed its position in Chevron Co. (NYSE:CVX) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 4,033 shares of the oil and gas company’s stock after selling 142 shares during the quarter. Saxony Capital Management LLC’s holdings in Chevron were worth $594,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Eagle Capital Management LLC raised its holdings in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. KCM Investment Advisors LLC raised its holdings in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the period. Hosking Partners LLP bought a new position in Chevron in the 1st quarter valued at about $4,924,000. Garner Asset Management Corp raised its holdings in Chevron by 14.5% in the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares during the period. Finally, Motiv8 Investments LLC raised its holdings in Chevron by 1.8% in the 2nd quarter. Motiv8 Investments LLC now owns 5,328 shares of the oil and gas company’s stock valued at $833,000 after acquiring an additional 93 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX stock opened at $150.92 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm’s fifty day moving average is $146.32 and its 200 day moving average is $153.47. The firm has a market cap of $278.14 billion, a P/E ratio of 13.88, a P/E/G ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly 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 the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $3.08 EPS. Research analysts predict that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.