Sanctuary Wealth Management L.L.C. Buys Shares of 325 Chevron Co. (NYSE:CVX)

Sanctuary Wealth Management L.L.C. purchased a new position in shares of Chevron Co. (NYSE:CVX) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 325 shares of the oil and gas company’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tyler Stone Wealth Management grew its holdings in shares of Chevron by 135.1% during the third quarter. Tyler Stone Wealth Management now owns 4,171 shares of the oil and gas company’s stock valued at $614,000 after buying an additional 2,397 shares during the last quarter. Colonial River Investments LLC grew its stake in Chevron by 1.8% during the 3rd quarter. Colonial River Investments LLC now owns 6,864 shares of the oil and gas company’s stock valued at $1,011,000 after purchasing an additional 124 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in shares of Chevron by 14.7% in the third quarter. Mayflower Financial Advisors LLC now owns 17,296 shares of the oil and gas company’s stock worth $2,547,000 after purchasing an additional 2,216 shares during the last quarter. Alan B Lancz & Associates Inc. lifted its holdings in shares of Chevron by 14.0% during the third quarter. Alan B Lancz & Associates Inc. now owns 2,849 shares of the oil and gas company’s stock worth $420,000 after purchasing an additional 350 shares during the period. Finally, Costello Asset Management INC increased its holdings in Chevron by 131.9% in the 3rd quarter. Costello Asset Management INC now owns 13,584 shares of the oil and gas company’s stock worth $2,000,000 after buying an additional 7,726 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX traded up $0.16 during trading hours on Friday, hitting $156.93. 6,041,457 shares of the company’s stock traded hands, compared to its average volume of 6,615,985. 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 current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $287.01 billion, a PE ratio of 17.25, a PEG ratio of 3.51 and a beta of 1.09. The firm’s 50-day moving average is $147.80 and its 200-day moving average is $152.89.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.93.

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.