Walker Financial Services Inc. Increases Position in Chevron Co. (NYSE:CVX)

Walker Financial Services Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 11.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,053 shares of the oil and gas company’s stock after purchasing an additional 213 shares during the period. Chevron comprises 0.2% of Walker Financial Services Inc.’s portfolio, making the stock its 23rd largest position. Walker Financial Services Inc.’s holdings in Chevron were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CVX. Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after buying an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. increased its position in shares of Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Chevron in the 1st quarter valued at about $156,482,000. Confluence Investment Management LLC bought a new position in shares of Chevron during the first quarter worth about $123,681,000. Finally, Capital International Investors grew its stake in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. 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. Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Finally, Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.59.

Chevron Price Performance

NYSE CVX opened at $151.42 on Friday. The firm has a market capitalization of $276.94 billion, a PE ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company’s 50 day simple moving average is $145.46 and its 200 day simple moving average is $153.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.08 EPS. As a group, equities research analysts forecast that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. Chevron’s dividend payout ratio is currently 64.55%.

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.