Chevron Co. (NYSE:CVX) Shares Acquired by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,297 shares of the oil and gas company’s stock after purchasing an additional 113 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Chevron were worth $1,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Code Waechter LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $754,000. Total Wealth Planning LLC lifted its position in shares of Chevron by 57.8% during the 3rd quarter. Total Wealth Planning LLC now owns 7,985 shares of the oil and gas company’s stock valued at $1,176,000 after acquiring an additional 2,925 shares during the period. Silverlake Wealth Management LLC boosted its stake in shares of Chevron by 3.1% during the 3rd quarter. Silverlake Wealth Management LLC now owns 11,240 shares of the oil and gas company’s stock worth $1,655,000 after acquiring an additional 336 shares in the last quarter. Requisite Capital Management LLC grew its holdings in shares of Chevron by 1.6% in the 3rd quarter. Requisite Capital Management LLC now owns 6,285 shares of the oil and gas company’s stock worth $926,000 after acquiring an additional 96 shares during the period. Finally, Octavia Wealth Advisors LLC increased its stake in Chevron by 8.1% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 5,638 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 421 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday. Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Scotiabank dropped their price objective 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. Finally, Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $177.59.

Chevron Trading Up 0.5 %

Shares of CVX stock traded up $0.80 on Friday, reaching $151.42. 5,051,314 shares of the stock were exchanged, compared to its average volume of 7,765,251. 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 stock has a market cap of $276.94 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The firm has a 50 day moving average of $145.46 and a two-hundred day moving average of $153.96. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 11.09 EPS for the current 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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s 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.