Auxier Asset Management Grows Stock Position in Chevron Co. (NYSE:CVX)

Auxier Asset Management grew its position in shares of Chevron Co. (NYSE:CVX) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,357 shares of the oil and gas company’s stock after buying an additional 427 shares during the period. Auxier Asset Management’s holdings in Chevron were worth $3,882,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Burney Co. grew its stake in Chevron by 1.6% in the 1st quarter. Burney Co. now owns 17,481 shares of the oil and gas company’s stock valued at $2,757,000 after buying an additional 275 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Chevron by 41.5% in the first quarter. EverSource Wealth Advisors LLC now owns 65,228 shares of the oil and gas company’s stock valued at $10,519,000 after purchasing an additional 19,124 shares in the last quarter. OMC Financial Services LTD bought a new stake in shares of Chevron during the 1st quarter valued at $1,153,000. Keynote Financial Services LLC purchased a new stake in Chevron during the 1st quarter worth about $828,000. Finally, NBW Capital LLC bought a new position in Chevron in the 1st quarter worth about $216,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3 %

CVX stock opened at $162.11 on Friday. The company has a market capitalization of $291.33 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50 day moving average price is $153.03 and its two-hundred day moving average price is $152.62.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company earned $3.05 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a research report on Tuesday. Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $175.56.

Chevron 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.