Northcape Wealth Management LLC Buys 69 Shares of Chevron Co. (NYSE:CVX)

Northcape Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,322 shares of the oil and gas company’s stock after acquiring an additional 69 shares during the quarter. Northcape Wealth Management LLC’s holdings in Chevron were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at approximately $29,000. Anfield Capital Management LLC boosted its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at $47,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter worth about $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVX shares. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group upped their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Truist Financial increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Down 0.2 %

Shares of Chevron stock opened at $161.42 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50-day moving average of $149.39 and a 200-day moving average of $152.68. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a market cap of $290.09 billion, a PE ratio of 17.74, a PEG ratio of 3.57 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 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.