IAM Advisory LLC acquired a new position in Chevron Co. (NYSE:CVX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,743 shares of the oil and gas company’s stock, valued at approximately $508,000.
A number of other institutional investors also recently made changes to their positions in CVX. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Chevron in the second quarter worth about $30,000. Horan Securities Inc. increased its holdings in Chevron by 196.0% in the 2nd quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 196 shares in the last quarter. Newton One Investments LLC bought a new stake in Chevron during the 2nd quarter worth approximately $34,000. Capital Directions Investment Advisors LLC lifted its holdings in Chevron by 66.7% during the second quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 150 shares in the last quarter. Finally, Lake Point Wealth Management bought a new position in shares of Chevron in the second quarter worth approximately $43,000. 65.55% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $145.00 in a research note on Wednesday. Mizuho restated a “buy” rating on shares of Chevron in a research report on Wednesday, November 3rd. Truist upped their price objective on Chevron from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research note on Wednesday, August 4th. Finally, Societe Generale started coverage on Chevron in a research note on Friday, October 22nd. They issued a “buy” rating and a $130.00 price target for the company. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Buy” and an average price target of $121.23.
CVX stock opened at $117.19 on Thursday. The company has a market capitalization of $225.91 billion, a PE ratio of 22.62, a P/E/G ratio of 2.42 and a beta of 1.30. Chevron Co. has a 12 month low of $83.53 and a 12 month high of $118.08. The firm’s 50-day moving average is $109.21 and its 200 day moving average is $104.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.28 and a quick ratio of 1.03.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $2.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.75. The company had revenue of $44.71 billion for the quarter, compared to the consensus estimate of $40.89 billion. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The firm’s revenue was up 82.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. Sell-side analysts forecast that Chevron Co. will post 8.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Thursday, November 18th will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Wednesday, November 17th. Chevron’s dividend payout ratio is presently 103.47%.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.
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