North Star Investment Management Corp. Buys 345 Shares of Chevron Co. (NYSE:CVX)

North Star Investment Management Corp. lifted its stake in Chevron Co. (NYSE:CVX) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,541 shares of the oil and gas company’s stock after acquiring an additional 345 shares during the period. North Star Investment Management Corp.’s holdings in Chevron were worth $3,320,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CVX. Marietta Wealth Management LLC grew its stake in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares during the last quarter. Leo Wealth LLC grew its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC grew its stake 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 buying an additional 8,168 shares during the last quarter. Hosking Partners LLP purchased a new position in Chevron during the 1st quarter worth $4,924,000. Finally, Garner Asset Management Corp grew its stake in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Performance

NYSE CVX traded down $0.02 during trading on Tuesday, hitting $153.95. The company’s stock had a trading volume of 1,208,008 shares, compared to its average volume of 7,626,131. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $147.07 and a 200 day moving average price of $152.91. The firm has a market cap of $281.56 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.39 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $48.86 billion. During the same period in the previous year, the business posted $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 10.7 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.24%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.