Krane Funds Advisors LLC Takes $47,000 Position in Chevron Co. (NYSE:CVX)

Krane Funds Advisors LLC purchased a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 320 shares of the oil and gas company’s stock, valued at approximately $47,000.

Other large investors also recently bought and sold shares of the company. Pacifica Partners Inc. lifted its position in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC boosted its position in 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 valued at $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC grew its stake in 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 in the last quarter. Hubbell Strickland Wealth Management LLC increased its position in shares of Chevron by 0.7% during the second 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 period. Finally, Ellenbecker Investment Group raised its stake in shares of Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $151.19 on Friday. The company has a market cap of $276.51 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. 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 firm’s 50-day moving average price is $145.96 and its 200-day moving average price is $153.76. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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 company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.08 EPS. As a group, equities analysts anticipate that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued 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 was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 64.55%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVX. Truist Financial dropped their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho lowered their price target 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. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Bank of America began coverage on Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.