Chevron Co. (NYSE:CVX) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 13.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,859 shares of the oil and gas company’s stock after purchasing an additional 11,151 shares during the period. Concurrent Investment Advisors LLC’s holdings in Chevron were worth $13,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Rational Advisors LLC acquired a new stake in Chevron during the third quarter valued at $29,000. Anfield Capital Management LLC raised its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Chevron during the 3rd quarter worth $47,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter valued at $47,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 2.4 %

Shares of NYSE:CVX traded up $3.73 during trading on Wednesday, hitting $157.14. 1,819,984 shares of the company were exchanged, compared to its average volume of 7,621,316. The stock has a market cap of $287.40 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 3.43 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $147.20 and a two-hundred day moving average price of $152.86. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company posted $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Scotiabank reduced 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, October 10th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Truist Financial upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.