Silverlake Wealth Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Silverlake Wealth Management LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,240 shares of the oil and gas company’s stock after purchasing an additional 336 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Chevron were worth $1,655,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC lifted its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Anfield Capital Management LLC boosted its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Cooksen Wealth LLC purchased a new position in shares of Chevron in the fourth quarter valued at about $40,000. Finally, Vima LLC bought a new position in shares of Chevron during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

Shares of Chevron stock traded up $0.80 during trading hours on Friday, reaching $151.42. 5,051,314 shares of the company were exchanged, compared to its average volume of 7,765,251. The stock’s fifty day moving average is $145.46 and its 200 day moving average is $153.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The firm has a market cap of $276.94 billion, a PE ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09.

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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the company earned $3.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Truist Financial lowered their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $177.59.

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.