Buckley Wealth Management LLC Purchases 3,010 Shares of Chevron Co. (NYSE:CVX)

Buckley Wealth Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,676 shares of the oil and gas company’s stock after acquiring an additional 3,010 shares during the quarter. Chevron comprises approximately 5.3% of Buckley Wealth Management LLC’s holdings, making the stock its 4th largest position. Buckley Wealth Management LLC’s holdings in Chevron were worth $17,183,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sterling Financial Group Inc. lifted its position in Chevron by 4.4% during the 1st quarter. Sterling Financial Group Inc. now owns 4,561 shares of the oil and gas company’s stock worth $719,000 after acquiring an additional 192 shares during the last quarter. Daymark Wealth Partners LLC boosted its stake in Chevron by 3.2% during the 1st quarter. Daymark Wealth Partners LLC now owns 188,146 shares of the oil and gas company’s stock valued at $29,678,000 after purchasing an additional 5,815 shares during the period. BTC Capital Management Inc. acquired a new stake in Chevron in the 1st quarter valued at approximately $11,079,000. Private Capital Management LLC increased its position in Chevron by 9.6% in the 4th quarter. Private Capital Management LLC now owns 17,999 shares of the oil and gas company’s stock worth $2,685,000 after buying an additional 1,582 shares during the period. Finally, Midwest Financial Group LLC lifted its holdings in shares of Chevron by 5.4% during the first quarter. Midwest Financial Group LLC now owns 3,196 shares of the oil and gas company’s stock worth $504,000 after buying an additional 165 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX stock traded down $0.45 during trading on Friday, hitting $150.75. 5,208,202 shares of the stock traded hands, compared to its average volume of 7,706,832. The stock has a market cap of $277.83 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $146.07 and a 200 day simple moving average of $153.66.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.08 EPS. Equities analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.