Vicus Capital Sells 2,131 Shares of Chevron Co. (NYSE:CVX)

Vicus Capital cut its stake in Chevron Co. (NYSE:CVX) by 27.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,710 shares of the oil and gas company’s stock after selling 2,131 shares during the quarter. Vicus Capital’s holdings in Chevron were worth $841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Eagle Capital Management LLC raised its holdings in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in Chevron in the first quarter worth $345,000. KCM Investment Advisors LLC boosted its stake in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Hosking Partners LLP purchased a new stake in shares of Chevron during the first quarter valued at $4,924,000. Finally, Garner Asset Management Corp grew its holdings in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.1 %

Chevron stock traded up $0.11 during trading hours on Tuesday, reaching $150.99. The stock had a trading volume of 1,201,711 shares, compared to its average volume of 7,662,046. The business’s 50 day moving average price is $146.19 and its 200-day moving average price is $153.55. 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 52 week low of $135.37 and a 52 week high of $167.11. The company has a market cap of $278.27 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 yield of 4.32%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVX shares. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group boosted their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

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.