Watts Gwilliam & Co. LLC Takes $600,000 Position in Chevron Co. (NYSE:CVX)

Watts Gwilliam & Co. LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,034 shares of the oil and gas company’s stock, valued at approximately $600,000.

Other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC boosted its position in Chevron by 5.6% during the 4th quarter. Studio Investment Management LLC now owns 21,243 shares of the oil and gas company’s stock worth $3,169,000 after acquiring an additional 1,128 shares during the last quarter. Aspect Partners LLC acquired a new position in Chevron during the fourth quarter worth $150,000. Clarity Asset Management Inc. bought a new position in Chevron in the fourth quarter valued at $168,000. CMG Global Holdings LLC grew its position in Chevron by 18.9% in the fourth quarter. CMG Global Holdings LLC now owns 21,463 shares of the oil and gas company’s stock valued at $3,315,000 after purchasing an additional 3,410 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. bought a new stake in Chevron during the 4th quarter worth about $20,308,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.5 %

Shares of NYSE:CVX opened at $151.42 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $170.17. The business has a 50 day moving average of $145.46 and a 200-day moving average of $153.96. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $276.94 billion, a PE ratio of 14.99, a P/E/G ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 64.55%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays lowered their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. UBS Group increased their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $177.59.

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.