Inscription Capital LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Inscription Capital LLC grew its holdings in Chevron Co. (NYSE:CVX) by 3.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 77,577 shares of the oil and gas company’s stock after purchasing an additional 2,635 shares during the quarter. Chevron makes up 1.7% of Inscription Capital LLC’s holdings, making the stock its 12th biggest holding. Inscription Capital LLC’s holdings in Chevron were worth $11,425,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CVX. International Assets Investment Management LLC lifted its position in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after buying an additional 3,876,731 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after buying an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares during the last quarter. Finally, Capital International Investors boosted its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Truist Financial reduced 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, Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Five 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, Chevron currently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Down 0.2 %

Shares of Chevron stock opened at $150.55 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market cap of $275.34 billion, a P/E ratio of 14.91, a PEG ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a fifty day moving average of $146.66 and a two-hundred day moving average of $153.15.

Chevron (NYSE:CVX) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

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.