Chevron Co. (NYSE:CVX) Stock Holdings Lifted by Eagle Capital Management LLC

Eagle Capital Management LLC raised its position in Chevron Co. (NYSE:CVX) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,358 shares of the oil and gas company’s stock after purchasing an additional 143 shares during the quarter. Chevron makes up approximately 2.1% of Eagle Capital Management LLC’s holdings, making the stock its 18th biggest position. Eagle Capital Management LLC’s holdings in Chevron were worth $5,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Chevron by 15,542.0% during 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 period. Global Assets Advisory LLC bought a new stake in Chevron during the 1st quarter valued at approximately $156,482,000. Capital International Investors boosted its stake in Chevron by 5.9% during 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 period. Finally, Federated Hermes Inc. boosted its stake in Chevron by 38.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after purchasing an additional 681,394 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

Chevron stock traded down $0.45 during trading hours on Friday, hitting $150.75. 5,208,202 shares of the stock were exchanged, compared to its average volume of 7,706,832. The stock has a market capitalization of $277.83 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. The business’s 50-day moving average is $146.07 and its two-hundred day moving average is $153.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17.

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). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.08 earnings per share. Equities research analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.