Chevron Co. (NYSE:CVX) Holdings Raised by CX Institutional

CX Institutional grew its stake in shares of Chevron Co. (NYSE:CVX) by 97.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,181 shares of the oil and gas company’s stock after acquiring an additional 22,735 shares during the period. CX Institutional’s holdings in Chevron were worth $6,801,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. Scarborough Advisors LLC acquired a new position in Chevron in the fourth quarter worth approximately $98,000. Wellington Management Group LLP increased its stake in shares of Chevron by 11.5% during the 4th quarter. Wellington Management Group LLP now owns 4,047,616 shares of the oil and gas company’s stock worth $603,742,000 after purchasing an additional 417,183 shares during the last quarter. Yeomans Consulting Group Inc. acquired a new position in shares of Chevron during the 4th quarter worth $274,000. Leo Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $1,085,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Chevron in the fourth quarter worth $1,121,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVX. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report 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 research report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.81.

Chevron Stock Up 0.3 %

Shares of NYSE CVX opened at $151.85 on Tuesday. The business has a fifty day moving average of $145.61 and a two-hundred day moving average of $153.89. 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 Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The stock has a market cap of $279.85 billion, a PE ratio of 13.97, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.08 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.29%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.