JDM Financial Group LLC Sells 97 Shares of Chevron Co. (NYSE:CVX)

JDM Financial Group LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266 shares of the oil and gas company’s stock after selling 97 shares during the quarter. JDM Financial Group LLC’s holdings in Chevron were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the period. Norges Bank purchased a new position in shares of Chevron in the fourth quarter valued at $3,017,750,000. Northern Trust Corp grew its position in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after purchasing an additional 410,460 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and cut their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Down 0.9%

CVX stock opened at $137.21 on Wednesday. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a market capitalization of $239.62 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company’s 50 day moving average price is $146.04 and its two-hundred day moving average price is $151.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the company earned $2.93 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.