Thurston Springer Miller Herd & Titak Inc. Raises Stake in Chevron Co. (NYSE:CVX)

Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,584 shares of the oil and gas company’s stock after buying an additional 682 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Chevron were worth $1,706,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVX. Massachusetts Financial Services Co. MA increased its position in 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 position in shares of Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Chevron during the 1st quarter worth about $156,482,000. Confluence Investment Management LLC bought a new position in Chevron in the 1st quarter worth about $123,681,000. Finally, Capital International Investors lifted its holdings in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.81.

Chevron Stock Performance

Chevron stock opened at $151.42 on Monday. The firm has a fifty day simple moving average of $145.46 and a two-hundred day simple moving average of $153.93. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a market capitalization of $279.06 billion, a PE ratio of 13.93, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company 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 company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 EPS. Research analysts expect that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.