Peterson Wealth Management Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Peterson Wealth Management grew its position in Chevron Co. (NYSE:CVX) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,362 shares of the oil and gas company’s stock after buying an additional 149 shares during the period. Peterson Wealth Management’s holdings in Chevron were worth $1,232,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Marietta Wealth Management LLC boosted its holdings in shares of Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares in the last quarter. Leo Wealth LLC boosted its holdings in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC boosted its holdings in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after buying an additional 3,933 shares in the last quarter. Finally, Garner Asset Management Corp boosted its holdings in shares of Chevron by 14.5% in the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after buying an additional 2,530 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, UBS Group lifted their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.56.

Chevron Price Performance

NYSE:CVX opened at $162.11 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $291.33 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. The company has a 50 day moving average price of $153.03 and a 200-day moving average price of $152.62. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.05 EPS. Equities research analysts forecast that Chevron Co. will post 10.53 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 issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

About Chevron

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.