Chevron Co. (NYSE:CVX) Stock Position Raised by JBR Co Financial Management Inc

JBR Co Financial Management Inc increased its holdings in Chevron Co. (NYSE:CVX) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,071 shares of the oil and gas company’s stock after buying an additional 150 shares during the period. Chevron comprises about 2.9% of JBR Co Financial Management Inc’s holdings, making the stock its 6th largest position. JBR Co Financial Management Inc’s holdings in Chevron were worth $4,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Massachusetts Financial Services Co. MA raised its stake in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. raised its stake in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Chevron in the 1st quarter valued at about $156,482,000. Confluence Investment Management LLC acquired a new position in Chevron in the 1st quarter valued at about $123,681,000. Finally, Capital International Investors raised its stake in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.5 %

NYSE:CVX traded up $0.80 during trading hours on Friday, hitting $151.42. The stock had a trading volume of 5,051,314 shares, compared to its average volume of 7,765,251. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $276.94 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The business has a 50 day simple moving average of $145.46 and a two-hundred day simple moving average of $153.95.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 64.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVX shares. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $176.81.

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.