Chevron Co. (NYSE:CVX) Position Boosted by Everett Harris & Co. CA

Everett Harris & Co. CA raised its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,322 shares of the oil and gas company’s stock after acquiring an additional 8,020 shares during the period. Chevron makes up 1.1% of Everett Harris & Co. CA’s holdings, making the stock its 21st largest position. Everett Harris & Co. CA’s holdings in Chevron were worth $87,673,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Capital World Investors lifted its stake in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after acquiring an additional 495,879 shares during the period. Legal & General Group Plc boosted its holdings in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares in the last quarter. Capital International Investors increased its stake 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 valued at $2,116,600,000 after acquiring an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 126,889 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group boosted their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Bank of America began coverage on shares of Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price objective for the company. Finally, Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Down 0.3 %

Shares of CVX traded down $0.45 during trading hours on Friday, reaching $150.75. The company’s stock had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market cap of $277.83 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The company has a 50 day moving average of $146.07 and a two-hundred day moving average of $153.71. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 11.06 EPS for the current fiscal 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 paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.