JB Capital LLC Sells 431 Shares of Chevron Co. (NYSE:CVX)

JB Capital LLC cut its holdings in Chevron Co. (NYSE:CVX) by 8.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,557 shares of the oil and gas company’s stock after selling 431 shares during the period. JB Capital LLC’s holdings in Chevron were worth $713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Goldstein Advisors LLC raised its holdings in Chevron by 49.0% in the 2nd quarter. Goldstein Advisors LLC now owns 2,052 shares of the oil and gas company’s stock worth $321,000 after purchasing an additional 675 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Chevron by 11.3% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,894 shares of the oil and gas company’s stock worth $2,330,000 after buying an additional 1,515 shares during the period. My Legacy Advisors LLC purchased a new position in shares of Chevron during the 2nd quarter valued at about $1,249,000. Nicholas Company Inc. grew its stake in shares of Chevron by 30.1% during the 2nd quarter. Nicholas Company Inc. now owns 68,455 shares of the oil and gas company’s stock valued at $10,708,000 after acquiring an additional 15,835 shares during the period. Finally, Meritas Wealth Management LLC increased its holdings in Chevron by 11.4% in the 2nd quarter. Meritas Wealth Management LLC now owns 1,507 shares of the oil and gas company’s stock worth $236,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.3 %

CVX traded up $1.89 on Friday, hitting $147.62. The company had a trading volume of 4,824,078 shares, compared to its average volume of 7,814,477. The business’s fifty day simple moving average is $152.97 and its 200 day simple moving average is $155.78. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a market cap of $272.06 billion, a PE ratio of 13.59, a PEG ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVX shares. Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.82.

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.