Chevron Co. (NYSE:CVX) Shares Acquired by Mengis Capital Management Inc.

Mengis Capital Management Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,442 shares of the oil and gas company’s stock after purchasing an additional 3,795 shares during the period. Chevron makes up about 2.9% of Mengis Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Mengis Capital Management Inc.’s holdings in Chevron were worth $14,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVX. Marietta Wealth Management LLC increased its position in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC increased its holdings in Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares during the period. Garner Asset Management Corp increased its holdings in Chevron by 14.5% in the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Chevron by 3.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after acquiring an additional 3,561 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $163,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group boosted their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company lowered 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. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Down 0.8 %

Shares of NYSE CVX opened at $155.30 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $148.18 and its 200 day simple moving average is $152.61. The firm has a market cap of $279.09 billion, a PE ratio of 17.07, a P/E/G ratio of 3.50 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.05 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s dividend payout ratio is currently 71.65%.

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.