Stifel Financial Corp Lowers Holdings in Chevron Co. (NYSE:CVX)

Stifel Financial Corp decreased its holdings in Chevron Co. (NYSE:CVX) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,912,816 shares of the oil and gas company’s stock after selling 110,148 shares during the quarter. Stifel Financial Corp’s holdings in Chevron were worth $428,983,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rational Advisors LLC purchased a new position in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the 3rd quarter worth about $31,000. Anfield Capital Management LLC raised its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Finally, Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $158.32 on Thursday. The company’s 50 day moving average is $154.23 and its 200 day moving average is $152.50. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $284.52 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 3.57 and a beta of 1.10. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.05 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.63.

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.