Woodstock Corp Buys 2,045 Shares of Chevron Co. (NYSE:CVX)

Woodstock Corp raised its stake in shares of Chevron Co. (NYSE:CVX) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,968 shares of the oil and gas company’s stock after acquiring an additional 2,045 shares during the period. Woodstock Corp’s holdings in Chevron were worth $7,506,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CVX. Pacifica Partners Inc. lifted its position in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC boosted its position in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC grew its stake in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its position in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised its position in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVX. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. 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 report on Thursday. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced 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. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.81.

Chevron Stock Performance

NYSE:CVX opened at $151.42 on Monday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a 50 day moving average price of $145.46 and a 200 day moving average price of $153.93. The stock has a market capitalization of $279.06 billion, a P/E ratio of 13.93, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. Chevron’s dividend payout ratio is presently 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.