GoalVest Advisory LLC Has $1.06 Million Stake in Chevron Co. (NYSE:CVX)

GoalVest Advisory LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,172 shares of the oil and gas company’s stock after buying an additional 467 shares during the period. GoalVest Advisory LLC’s holdings in Chevron were worth $1,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the period. Capital World Investors boosted its position in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the period. Legal & General Group Plc boosted its position in shares of Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares during the period. Capital International Investors boosted its position in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after buying an additional 126,889 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. 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. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Price Performance

Shares of NYSE CVX opened at $161.42 on Friday. The firm has a market cap of $290.09 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business’s 50 day moving average is $149.39 and its 200-day moving average is $152.62.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.05 earnings per share. Equities research analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) 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.