Jacobsen Capital Management Has $277,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Jacobsen Capital Management cut its holdings in Chevron Co. (NYSE:CVX) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,878 shares of the oil and gas company’s stock after selling 161 shares during the quarter. Jacobsen Capital Management’s holdings in Chevron were worth $277,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter valued at approximately $47,000. Livelsberger Financial Advisory bought a new position in shares of Chevron in the third quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Chevron in the first quarter valued at approximately $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.3 %

Shares of NYSE:CVX opened at $148.55 on Wednesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. 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 company’s fifty day moving average is $146.74 and its 200-day moving average is $153.08. The company has a market capitalization of $271.69 billion, a PE ratio of 14.71, a P/E/G ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.39%. Chevron’s dividend payout ratio is presently 64.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVX shares. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

About Chevron

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.