Krane Funds Advisors LLC Invests $320,000 in Chevron Co. (NYSE:CVX)

Krane Funds Advisors LLC purchased a new position in Chevron Co. (NYSE:CVX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,173 shares of the oil and gas company’s stock, valued at approximately $320,000.

Other hedge funds also recently bought and sold shares of the company. Cherrydale Wealth Management LLC bought a new position in Chevron in the 1st quarter valued at approximately $223,000. Westend Capital Management LLC bought a new position in shares of Chevron during the first quarter valued at $119,000. Steph & Co. boosted its position in shares of Chevron by 19.0% during the first quarter. Steph & Co. now owns 5,777 shares of the oil and gas company’s stock valued at $911,000 after buying an additional 922 shares during the last quarter. Game Plan Financial Advisors LLC bought a new stake in Chevron in the 1st quarter worth about $1,437,000. Finally, Northwest Investment Counselors LLC lifted its stake in Chevron by 8.2% during the 1st quarter. Northwest Investment Counselors LLC now owns 2,261 shares of the oil and gas company’s stock valued at $357,000 after acquiring an additional 171 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.1 %

CVX opened at $150.88 on Tuesday. The stock’s 50 day moving average price is $146.19 and its 200-day moving average price is $153.55. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $275.95 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

Analyst Ratings Changes

Several research analysts have weighed in on CVX shares. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Company 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.