Chevron Co. (NYSE:CVX) Shares Acquired by High Net Worth Advisory Group LLC

High Net Worth Advisory Group LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 3.3% during the third quarter, Holdings Channel reports. The fund owned 13,451 shares of the oil and gas company’s stock after acquiring an additional 435 shares during the period. High Net Worth Advisory Group LLC’s holdings in Chevron were worth $1,981,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC acquired a new position in Chevron during the 1st quarter worth approximately $345,000. KCM Investment Advisors LLC grew its holdings in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $46,000. Finally, Hosking Partners LLP acquired a new stake in shares of Chevron in the 1st quarter valued at $4,924,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. UBS Group increased their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.81.

Chevron Price Performance

Shares of CVX opened at $151.42 on Monday. The company has a market capitalization of $276.94 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The firm has a 50-day simple moving average of $145.46 and a 200-day simple moving average of $153.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its 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). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s dividend payout ratio is currently 64.55%.

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.