Cerro Pacific Wealth Advisors LLC Increases Stake in Chevron Co. (NYSE:CVX)

Cerro Pacific Wealth Advisors LLC lifted its stake in Chevron Co. (NYSE:CVX) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,612 shares of the oil and gas company’s stock after purchasing an additional 6,035 shares during the quarter. Chevron comprises about 1.9% of Cerro Pacific Wealth Advisors LLC’s portfolio, making the stock its 13th largest holding. Cerro Pacific Wealth Advisors LLC’s holdings in Chevron were worth $5,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. American Capital Advisory LLC lifted its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Anfield Capital Management LLC increased its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during the 2nd 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. Cooksen Wealth LLC purchased a new position in shares of Chevron during the 4th quarter valued at approximately $40,000. Finally, Vima LLC purchased a new position in shares of Chevron during the 4th quarter valued at approximately $44,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.6 %

NYSE CVX opened at $150.59 on Friday. The firm’s 50-day moving average is $145.41 and its two-hundred day moving average is $153.99. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $275.42 billion, a P/E ratio of 14.91, a PEG ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. Chevron’s payout ratio is currently 64.55%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Chevron in a report on Tuesday. Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.59.

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.