Romano Brothers AND Company Grows Stake in Chevron Co. (NYSE:CVX)

Romano Brothers AND Company lifted its stake in shares of Chevron Co. (NYSE:CVX) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,039 shares of the oil and gas company’s stock after purchasing an additional 985 shares during the period. Romano Brothers AND Company’s holdings in Chevron were worth $2,068,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CVX. Anfield Capital Management LLC lifted its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in Chevron during the third quarter valued at about $47,000. Livelsberger Financial Advisory purchased a new position in shares of Chevron in the third quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron during the 1st quarter valued at approximately $55,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CVX shares. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. 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. UBS Group increased their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Down 0.3 %

Shares of CVX opened at $150.46 on Thursday. The stock has a market capitalization of $277.29 billion, a P/E ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. The firm has a fifty day simple moving average of $146.44 and a two-hundred day simple moving average of $153.45. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.08 EPS. On average, research analysts anticipate that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio 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.