Wesbanco Bank Inc. Purchases 4,004 Shares of Chevron Co. (NYSE:CVX)

Wesbanco Bank Inc. boosted its position in Chevron Co. (NYSE:CVX) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 228,634 shares of the oil and gas company’s stock after acquiring an additional 4,004 shares during the period. Chevron accounts for 1.1% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 16th biggest position. Wesbanco Bank Inc.’s holdings in Chevron were worth $33,671,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVX. Pacifica Partners Inc. lifted its holdings in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC lifted its holdings in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC lifted its holdings in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC lifted its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its holdings in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.3 %

Shares of Chevron stock opened at $151.85 on Tuesday. The firm’s 50 day moving average price is $145.61 and its 200-day moving average price is $153.89. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a market cap of $279.85 billion, a P/E ratio of 13.97, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the firm earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Barclays decreased their price objective 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. UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Finally, Truist Financial decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price 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.