Procyon Private Wealth Partners LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,225 shares of the oil and gas company’s stock after purchasing an additional 2,290 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Chevron were worth $2,661,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in Chevron by 15.7% during the 2nd quarter. DAVENPORT & Co LLC now owns 681,068 shares of the oil and gas company’s stock valued at $71,335,000 after purchasing an additional 92,201 shares during the last quarter. CapWealth Advisors LLC increased its holdings in Chevron by 4.9% in the 2nd quarter. CapWealth Advisors LLC now owns 157,447 shares of the oil and gas company’s stock valued at $16,491,000 after buying an additional 7,351 shares during the period. Oakwood Capital Management LLC CA increased its holdings in Chevron by 2.0% in the 2nd quarter. Oakwood Capital Management LLC CA now owns 53,292 shares of the oil and gas company’s stock valued at $5,582,000 after buying an additional 1,037 shares during the period. Vigilare Wealth Management increased its holdings in Chevron by 72.9% in the 2nd quarter. Vigilare Wealth Management now owns 6,721 shares of the oil and gas company’s stock valued at $704,000 after buying an additional 2,834 shares during the period. Finally, Murphy Pohlad Asset Management LLC increased its holdings in Chevron by 5.5% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 40,028 shares of the oil and gas company’s stock valued at $4,192,000 after buying an additional 2,083 shares during the period. Hedge funds and other institutional investors own 65.55% of the company’s stock.
Several equities research analysts have issued reports on CVX shares. Mizuho reissued a “buy” rating on shares of Chevron in a report on Wednesday, November 3rd. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, September 21st. Truist Securities upped their target price on shares of Chevron from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. TheStreet raised shares of Chevron from a “c” rating to a “b-” rating in a report on Friday, July 30th. Finally, Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $145.00 in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $121.23.
Chevron stock opened at $117.19 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. Chevron Co. has a 1 year low of $83.53 and a 1 year high of $118.08. The company has a market cap of $225.91 billion, a PE ratio of 22.62, a PEG ratio of 2.42 and a beta of 1.30. The company’s 50-day moving average is $109.21 and its two-hundred day moving average is $104.90.
Chevron (NYSE:CVX) last released its earnings results on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.75. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The company had revenue of $44.71 billion for the quarter, compared to the consensus estimate of $40.89 billion. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue was up 82.9% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 8.35 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Thursday, November 18th will be given a $1.34 dividend. The ex-dividend date of this dividend is Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.57%. Chevron’s dividend payout ratio is 103.47%.
Chevron Company Profile
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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