Ashton Thomas Securities LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Ashton Thomas Securities LLC grew its stake in Chevron Co. (NYSE:CVX) by 33.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,001 shares of the oil and gas company’s stock after buying an additional 748 shares during the period. Ashton Thomas Securities LLC’s holdings in Chevron were worth $442,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC bought a new position in Chevron in the third quarter valued at $29,000. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the 3rd quarter valued at $47,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.55 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market capitalization of $286.31 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.51 and a beta of 1.09. The company’s 50-day moving average is $147.80 and its 200 day moving average is $152.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. UBS Group boosted their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.93.

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.