Bay Rivers Group Acquires 200 Shares of Chevron Co. (NYSE:CVX)

Bay Rivers Group lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 15.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,480 shares of the oil and gas company’s stock after buying an additional 200 shares during the quarter. Bay Rivers Group’s holdings in Chevron were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. GW Henssler & Associates Ltd. boosted its stake in Chevron by 1.1% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 209,223 shares of the oil and gas company’s stock worth $30,812,000 after purchasing an additional 2,353 shares during the period. Tyche Wealth Partners LLC lifted its holdings in shares of Chevron by 0.3% in the third quarter. Tyche Wealth Partners LLC now owns 33,791 shares of the oil and gas company’s stock worth $4,976,000 after buying an additional 99 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of Chevron by 2.2% in the third quarter. MONECO Advisors LLC now owns 18,792 shares of the oil and gas company’s stock valued at $2,767,000 after acquiring an additional 409 shares during the period. MBA Advisors LLC grew its stake in Chevron by 6.4% during the third quarter. MBA Advisors LLC now owns 6,232 shares of the oil and gas company’s stock valued at $918,000 after acquiring an additional 377 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in Chevron by 166.4% during the 3rd quarter. Fortitude Family Office LLC now owns 5,278 shares of the oil and gas company’s stock worth $777,000 after acquiring an additional 3,297 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $148.55 on Wednesday. The stock has a market capitalization of $271.69 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a fifty day moving average of $146.74 and a 200-day moving average of $153.08. 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 quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business posted $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared 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 of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.39%. Chevron’s dividend payout ratio (DPR) is currently 64.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVX shares. UBS Group boosted their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Scotiabank cut their price objective 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, Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron 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.