von Borstel & Associates Inc. Makes New $924,000 Investment in Chevron Co. (NYSE:CVX)

von Borstel & Associates Inc. acquired a new position in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,276 shares of the oil and gas company’s stock, valued at approximately $924,000. Chevron comprises approximately 0.5% of von Borstel & Associates Inc.’s holdings, making the stock its 16th biggest position.

Several other institutional investors also recently modified their holdings of the stock. Pacifica Partners Inc. increased its position in Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC lifted its holdings in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC boosted its position in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC grew its holdings in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the period. Finally, Ellenbecker Investment Group increased its stake in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CVX shares. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays cut their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $176.81.

Chevron Trading Down 2.3 %

Shares of CVX stock traded down $3.43 during trading hours on Tuesday, reaching $148.35. The company’s stock had a trading volume of 4,515,213 shares, compared to its average volume of 7,731,094. The firm’s fifty day simple moving average is $145.61 and its 200 day simple moving average is $153.89. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The stock has a market capitalization of $273.40 billion, a P/E ratio of 13.76, a P/E/G ratio of 2.72 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.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.