Chevron Co. (NYSE:CVX) Shares Bought by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC lifted its stake in Chevron Co. (NYSE:CVX) by 80.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,334 shares of the oil and gas company’s stock after acquiring an additional 5,958 shares during the period. Chevron comprises about 1.0% of Schrum Private Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Schrum Private Wealth Management LLC’s holdings in Chevron were worth $1,964,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after buying an additional 3,876,731 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. grew its holdings in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares during the period. Finally, Capital International Investors raised its position in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. 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 research note on Monday, September 16th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Price Performance

NYSE CVX traded up $1.20 during trading hours on Wednesday, hitting $156.49. 1,875,961 shares of the company’s stock traded hands, compared to its average volume of 7,629,072. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm’s 50-day moving average is $148.18 and its 200-day moving average is $152.61. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a market capitalization of $281.23 billion, a PE ratio of 17.20, a PEG ratio of 3.49 and a beta of 1.09.

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, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 earnings per share. Equities analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Chevron Company 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.