DeDora Capital Inc. Raises Stock Position in Chevron Co. (NYSE:CVX)

DeDora Capital Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,706 shares of the oil and gas company’s stock after purchasing an additional 256 shares during the period. DeDora Capital Inc.’s holdings in Chevron were worth $2,313,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. Eagle Capital Management LLC increased its stake in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in shares of Chevron in the 1st quarter worth approximately $345,000. KCM Investment Advisors LLC lifted its stake in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the period. Hosking Partners LLP acquired a new stake in Chevron during the first quarter valued at approximately $4,924,000. Finally, Garner Asset Management Corp lifted its stake in Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX traded up $0.12 during midday trading on Tuesday, hitting $151.00. The company had a trading volume of 335,926 shares, compared to its average volume of 7,657,802. The company has a market capitalization of $278.29 billion, a PE ratio of 13.91, a P/E/G ratio of 2.73 and a beta of 1.09. 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 twelve month low of $135.37 and a twelve month high of $167.11. The firm’s 50-day simple moving average is $146.19 and its 200-day simple moving average is $153.55.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $3.08 EPS. Equities research analysts predict that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued 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 4.32%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CVX shares. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Mizuho decreased 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. Barclays decreased their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Finally, Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Company 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.