Lockerman Financial Group Inc. Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Lockerman Financial Group Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,590 shares of the oil and gas company’s stock after selling 456 shares during the period. Lockerman Financial Group Inc.’s holdings in Chevron were worth $234,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $98,000. Wellington Management Group LLP grew its holdings in Chevron by 11.5% in the 4th quarter. Wellington Management Group LLP now owns 4,047,616 shares of the oil and gas company’s stock valued at $603,742,000 after buying an additional 417,183 shares during the period. Yeomans Consulting Group Inc. purchased a new stake in Chevron in the 4th quarter valued at about $274,000. Leo Wealth LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $1,085,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Chevron in the 4th quarter valued at about $1,121,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock traded down $4.05 during trading on Tuesday, hitting $147.73. The company had a trading volume of 6,700,651 shares, compared to its average volume of 7,742,076. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $272.26 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The stock’s 50-day moving average price is $145.61 and its 200 day moving average price is $153.89. Chevron Co. has a one year low of $135.37 and a one year high of $170.17.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for 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%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 earnings per share. Equities analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

Several equities analysts recently commented on CVX shares. Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, UBS Group upped their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.81.

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.