Chevron Co. (NYSE:CVX) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 21.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,278 shares of the oil and gas company’s stock after purchasing an additional 2,527 shares during the period. Secure Asset Management LLC’s holdings in Chevron were worth $2,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Chevron by 55.5% during the 2nd 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 acquiring an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. lifted its stake in 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 valued at $183,896,000 after buying an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Chevron in the 1st quarter valued at approximately $156,482,000. Capital International Investors lifted its stake in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Chevron by 38.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after buying an additional 681,394 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVX shares. Bank of America started coverage on Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays dropped their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

NYSE CVX opened at $151.19 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $276.51 billion, a PE ratio of 14.97, a P/E/G ratio of 2.74 and a beta of 1.09. The company’s 50 day simple moving average is $145.96 and its 200 day simple moving average is $153.76.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for 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 company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 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.