Wealth Quarterback LLC Buys 698 Shares of Chevron Co. (NYSE:CVX)

Wealth Quarterback LLC raised its stake in Chevron Co. (NYSE:CVX) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,785 shares of the oil and gas company’s stock after purchasing an additional 698 shares during the quarter. Wealth Quarterback LLC’s holdings in Chevron were worth $1,294,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. bought a new stake in shares of Chevron in the 1st quarter valued at about $566,000. Oxbow Advisors LLC raised its stake in Chevron by 13.1% in the first quarter. Oxbow Advisors LLC now owns 11,787 shares of the oil and gas company’s stock valued at $1,859,000 after buying an additional 1,361 shares during the period. Bard Financial Services Inc. lifted its position in shares of Chevron by 1.7% in the first quarter. Bard Financial Services Inc. now owns 70,070 shares of the oil and gas company’s stock valued at $11,053,000 after buying an additional 1,200 shares during the last quarter. TFG Advisers LLC boosted its stake in shares of Chevron by 1.3% during the 1st quarter. TFG Advisers LLC now owns 20,483 shares of the oil and gas company’s stock worth $3,231,000 after acquiring an additional 261 shares during the period. Finally, Mittelman Wealth Management acquired a new position in shares of Chevron during the 1st quarter worth approximately $1,265,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $156.95 on Friday. The company’s 50-day moving average price is $147.80 and its two-hundred day moving average price is $152.89. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. 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 $287.05 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVX shares. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday. Truist Financial lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.