Firethorn Wealth Partners LLC Purchases 85 Shares of Chevron Co. (NYSE:CVX)

Firethorn Wealth Partners LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,120 shares of the oil and gas company’s stock after acquiring an additional 85 shares during the period. Firethorn Wealth Partners LLC’s holdings in Chevron were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in Chevron by 6.9% in the third quarter. Vontobel Holding Ltd. now owns 162,083 shares of the oil and gas company’s stock worth $23,870,000 after acquiring an additional 10,508 shares during the period. McKinley Carter Wealth Services Inc. raised its holdings in Chevron by 1.9% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 21,121 shares of the oil and gas company’s stock worth $3,110,000 after purchasing an additional 401 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Chevron by 2.5% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 27,652 shares of the oil and gas company’s stock worth $4,072,000 after purchasing an additional 667 shares during the period. Sunpointe LLC boosted its stake in shares of Chevron by 6.3% during the 3rd quarter. Sunpointe LLC now owns 3,177 shares of the oil and gas company’s stock valued at $468,000 after purchasing an additional 189 shares in the last quarter. Finally, Stableford Capital II LLC increased its position in shares of Chevron by 8.1% during the third quarter. Stableford Capital II LLC now owns 7,486 shares of the oil and gas company’s stock valued at $1,134,000 after buying an additional 564 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $148.69 on Thursday. The firm has a fifty day simple moving average of $145.82 and a two-hundred day simple moving average of $153.78. The firm has a market cap of $274.03 billion, a PE ratio of 13.68, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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). The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 EPS. On average, equities analysts anticipate that Chevron Co. will post 11.09 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.38%. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Truist Financial lowered 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. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank dropped 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, October 10th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.81.

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.