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

Jacobsen Capital Management decreased its stake in shares of Chevron Co. (NYSE:CVX) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,878 shares of the oil and gas company’s stock after selling 161 shares during the period. Jacobsen Capital Management’s holdings in Chevron were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Anfield Capital Management LLC lifted its position in Chevron by 118.0% during the 2nd 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 lifted its position in Chevron by 66.7% during the 2nd 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 acquired a new position in Chevron during the 3rd quarter valued at about $47,000. Livelsberger Financial Advisory acquired a new position in Chevron during the 3rd quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron during the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

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 business has a 50 day simple moving average of $146.74 and a 200 day simple moving average of $153.08. The stock has a market cap of $271.69 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 3.29 and a beta of 1.09.

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 analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the company earned $3.08 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 64.55%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CVX shares. 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. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron 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.