Chevron Co. (NYSE:CVX) Stock Holdings Lifted by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,612 shares of the oil and gas company’s stock after acquiring an additional 371 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Chevron were worth $2,005,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Glass Wealth Management Co LLC raised its holdings in Chevron by 5.8% during the 3rd quarter. Glass Wealth Management Co LLC now owns 24,929 shares of the oil and gas company’s stock worth $3,671,000 after buying an additional 1,372 shares during the period. Concord Asset Management LLC VA increased its position in shares of Chevron by 8.7% in the third quarter. Concord Asset Management LLC VA now owns 23,279 shares of the oil and gas company’s stock worth $3,428,000 after acquiring an additional 1,871 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Chevron during the third quarter valued at approximately $143,000. Mechanics Financial Corp lifted its position in shares of Chevron by 12.0% in the 3rd quarter. Mechanics Financial Corp now owns 12,419 shares of the oil and gas company’s stock valued at $1,829,000 after acquiring an additional 1,335 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC boosted its stake in Chevron by 28.2% in the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 26,307 shares of the oil and gas company’s stock worth $3,874,000 after purchasing an additional 5,788 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four equities 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 company has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Down 0.2 %

Chevron stock opened at $161.42 on Monday. The company has a market capitalization of $290.09 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm’s fifty day simple moving average is $149.39 and its 200-day simple moving average is $152.57. 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 (NYSE:CVX) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.05 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

About Chevron

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.