Chevron Co. (NYSE:CVX) Shares Acquired by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,303 shares of the oil and gas company’s stock after acquiring an additional 465 shares during the quarter. Long Run Wealth Advisors LLC’s holdings in Chevron were worth $486,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CVX. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Chevron in the 1st quarter worth approximately $566,000. Stack Financial Management Inc lifted its position in Chevron by 31.2% in the first quarter. Stack Financial Management Inc now owns 283,936 shares of the oil and gas company’s stock worth $44,788,000 after purchasing an additional 67,550 shares during the period. Graypoint LLC boosted its stake in Chevron by 11.0% during the 1st quarter. Graypoint LLC now owns 29,007 shares of the oil and gas company’s stock valued at $4,576,000 after purchasing an additional 2,880 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Chevron by 5.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 249,039 shares of the oil and gas company’s stock valued at $39,283,000 after purchasing an additional 12,126 shares during the period. Finally, Wright Investors Service Inc. raised its stake in shares of Chevron by 0.5% in the 1st quarter. Wright Investors Service Inc. now owns 22,695 shares of the oil and gas company’s stock worth $3,580,000 after buying an additional 117 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CVX shares. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday. Truist Financial raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Finally, Royal Bank of Canada upped their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Down 0.4 %

Shares of NYSE CVX opened at $153.42 on Wednesday. The firm has a market capitalization of $280.59 billion, a PE ratio of 16.86, a PEG ratio of 3.39 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $147.20 and a two-hundred day moving average price of $152.86.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $3.05 earnings per share. As a group, analysts predict that Chevron Co. will post 10.7 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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.