OneAscent Wealth Management LLC Makes New $973,000 Investment in Chevron Co. (NYSE:CVX)

OneAscent Wealth Management LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,606 shares of the oil and gas company’s stock, valued at approximately $973,000. Chevron makes up 0.4% of OneAscent Wealth Management LLC’s holdings, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth $29,000. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron in the third quarter worth about $47,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter worth approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVX. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of 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 thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Price Performance

Shares of CVX stock traded down $1.79 during mid-day trading on Monday, hitting $159.63. The company had a trading volume of 666,713 shares, compared to its average volume of 7,646,388. The company has a market capitalization of $286.87 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. The stock’s 50 day moving average price is $149.39 and its 200-day moving average price is $152.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. Chevron’s payout ratio is 71.65%.

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.