Stillwater Capital Advisors LLC Purchases New Position in Chevron Co. (NYSE:CVX)

Stillwater Capital Advisors LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the third quarter, according to its most recent filing with the SEC. The firm purchased 2,732 shares of the oil and gas company’s stock, valued at approximately $402,000.

A number of other hedge funds have also modified their holdings of CVX. Scarborough Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $98,000. Campbell Capital Management Inc. increased its stake in Chevron by 12.1% during the 1st quarter. Campbell Capital Management Inc. now owns 32,551 shares of the oil and gas company’s stock worth $5,135,000 after purchasing an additional 3,521 shares in the last quarter. GoalFusion Wealth Management LLC bought a new stake in Chevron during the 1st quarter worth approximately $207,000. Cullen Investment Group LTD. increased its stake in Chevron by 22.6% during the 1st quarter. Cullen Investment Group LTD. now owns 33,985 shares of the oil and gas company’s stock worth $5,430,000 after purchasing an additional 6,257 shares in the last quarter. Finally, S. R. Schill & Associates increased its stake in Chevron by 9.4% during the 1st quarter. S. R. Schill & Associates now owns 8,440 shares of the oil and gas company’s stock worth $1,331,000 after purchasing an additional 728 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVX shares. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Scotiabank decreased their price target 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. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $176.81.

Chevron Price Performance

NYSE:CVX opened at $147.73 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $145.70 and a 200 day simple moving average of $153.82. The stock has a market capitalization of $272.26 billion, a PE ratio of 13.59, a P/E/G ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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 net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 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.