Stone House Investment Management LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Stone House Investment Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 23.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 645 shares of the oil and gas company’s stock after selling 198 shares during the quarter. Stone House Investment Management LLC’s holdings in Chevron were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CVX. Osaic Holdings Inc. raised its position in Chevron by 177.5% in the second quarter. Osaic Holdings Inc. now owns 2,842,638 shares of the oil and gas company’s stock valued at $160,852,000 after purchasing an additional 1,818,195 shares during the period. Altrius Capital Management Inc grew its stake in shares of Chevron by 3.1% during the second quarter. Altrius Capital Management Inc now owns 20,899 shares of the oil and gas company’s stock valued at $3,289,000 after acquiring an additional 631 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Chevron by 5.8% during the second quarter. Bessemer Group Inc. now owns 4,563,316 shares of the oil and gas company’s stock worth $718,037,000 after acquiring an additional 251,659 shares during the last quarter. King Luther Capital Management Corp lifted its stake in shares of Chevron by 0.3% in the second quarter. King Luther Capital Management Corp now owns 1,299,962 shares of the oil and gas company’s stock worth $204,549,000 after acquiring an additional 4,482 shares in the last quarter. Finally, Davis R M Inc. boosted its holdings in Chevron by 10.7% in the second quarter. Davis R M Inc. now owns 26,432 shares of the oil and gas company’s stock valued at $4,159,000 after purchasing an additional 2,549 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on CVX shares. HSBC upped their target price on Chevron from $180.00 to $184.00 in a research report on Wednesday, August 9th. StockNews.com began coverage on shares of Chevron in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James dropped their target price on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Sanford C. Bernstein raised shares of Chevron from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $184.00 to $182.00 in a research report on Thursday, November 2nd. Finally, Bank of America raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $200.00 in a report on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $187.89.

Chevron Stock Performance

CVX traded up $0.46 during trading on Monday, reaching $144.92. 3,300,476 shares of the company were exchanged, compared to its average volume of 8,359,087. The stock has a market cap of $273.57 billion, a P/E ratio of 10.82, a PEG ratio of 0.73 and a beta of 1.16. The firm has a 50 day moving average of $158.68 and a 200 day moving average of $158.22. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. Chevron Co. has a 52 week low of $140.74 and a 52 week high of $187.81.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The company had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a return on equity of 16.15% and a net margin of 12.11%. Chevron’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.56 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 13.59 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $6.04 annualized dividend and a dividend yield of 4.17%. Chevron’s payout ratio is 44.84%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.