Smith Anglin Financial LLC Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Smith Anglin Financial LLC lowered its position in Chevron Co. (NYSE:CVX) by 9.1% in the second quarter, HoldingsChannel reports. The firm owned 3,238 shares of the oil and gas company’s stock after selling 325 shares during the period. Smith Anglin Financial LLC’s holdings in Chevron were worth $339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Chevron in the second quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Chevron in the first quarter valued at about $31,000. Horan Securities Inc. grew its holdings in shares of Chevron by 196.0% in the second quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 196 shares during the period. Total Clarity Wealth Management Inc. purchased a new stake in shares of Chevron in the first quarter valued at about $34,000. Finally, Newton One Investments LLC purchased a new stake in shares of Chevron in the second quarter valued at about $34,000. 65.78% of the stock is owned by hedge funds and other institutional investors.

NYSE:CVX traded up $1.50 during midday trading on Wednesday, reaching $97.70. The stock had a trading volume of 538,320 shares, compared to its average volume of 10,414,321. The firm has a fifty day simple moving average of $99.47 and a two-hundred day simple moving average of $103.55. Chevron Co. has a 12-month low of $65.16 and a 12-month high of $113.11. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The stock has a market cap of $188.94 billion, a P/E ratio of 51.66, a P/E/G ratio of 2.85 and a beta of 1.32.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.12. Chevron had a net margin of 3.01% and a return on equity of 3.89%. The firm had revenue of $37.60 billion for the quarter, compared to analyst estimates of $35.98 billion. During the same period last year, the firm posted ($1.59) EPS. Chevron’s quarterly revenue was up 169.5% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 6.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Thursday, August 19th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Wednesday, August 18th. Chevron’s dividend payout ratio (DPR) is currently -2,680.00%.

A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $118.00 target price on the stock in a research report on Wednesday, August 4th. Mizuho upped their target price on shares of Chevron from $127.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 7th. Morgan Stanley upped their target price on shares of Chevron from $127.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 18th. Raymond James increased their price target on shares of Chevron from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Chevron from $135.00 to $130.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 25th. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $118.29.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

See Also: Most Volatile Stocks

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.