Manchester Financial Inc. lifted its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 3.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,589 shares of the oil and gas company’s stock after purchasing an additional 93 shares during the quarter. Manchester Financial Inc.’s holdings in Chevron were worth $381,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the period. Mayfair Advisory Group LLC increased its position in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after purchasing an additional 65 shares during the period. Penbrook Management LLC boosted its stake in Chevron by 3.9% in the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 65 shares in the last quarter. Finally, Verum Partners LLC boosted its stake in Chevron by 3.0% in the 1st quarter. Verum Partners LLC now owns 2,236 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.
Chevron Trading Up 0.2 %
CVX stock opened at $150.81 on Monday. The company has a market cap of $277.94 billion, a P/E ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 business has a fifty day moving average of $146.59 and a 200-day moving average of $153.23.
Chevron (NYSE:CVX – Get Free Report) last released 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 firm 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 revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.86 EPS for the current year.
Chevron Dividend Announcement
The company 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. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s payout ratio is currently 59.98%.
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.
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