Werba Rubin Papier Wealth Management Raises Stake in Chevron Co. (NYSE:CVX)

Werba Rubin Papier Wealth Management grew its stake in Chevron Co. (NYSE:CVX) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,141 shares of the oil and gas company’s stock after acquiring an additional 88 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Chevron were worth $610,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Sterling Financial Group Inc. raised its position in shares of Chevron by 4.4% during the 1st quarter. Sterling Financial Group Inc. now owns 4,561 shares of the oil and gas company’s stock valued at $719,000 after buying an additional 192 shares during the period. Daymark Wealth Partners LLC lifted its stake in shares of Chevron by 3.2% in the 1st quarter. Daymark Wealth Partners LLC now owns 188,146 shares of the oil and gas company’s stock valued at $29,678,000 after purchasing an additional 5,815 shares during the last quarter. BTC Capital Management Inc. purchased a new position in shares of Chevron during the 1st quarter worth $11,079,000. Private Capital Management LLC increased its position in shares of Chevron by 9.6% during the 4th quarter. Private Capital Management LLC now owns 17,999 shares of the oil and gas company’s stock worth $2,685,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Midwest Financial Group LLC raised its holdings in Chevron by 5.4% in the 1st quarter. Midwest Financial Group LLC now owns 3,196 shares of the oil and gas company’s stock valued at $504,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein cut 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 research note on Wednesday, July 17th. Finally, Bank of America assumed coverage on Chevron in a research note on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

Shares of Chevron stock opened at $150.75 on Friday. 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 Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a market capitalization of $277.83 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The company has a 50 day moving average of $146.07 and a 200 day moving average of $153.66.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 EPS. As a group, research analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Chevron Company 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.