Home Federal Bank of Tennessee Acquires 279 Shares of Chevron Co. (NYSE:CVX)

Home Federal Bank of Tennessee raised its stake in Chevron Co. (NYSE:CVX) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,105 shares of the oil and gas company’s stock after acquiring an additional 279 shares during the period. Chevron makes up 0.6% of Home Federal Bank of Tennessee’s portfolio, making the stock its 27th biggest position. Home Federal Bank of Tennessee’s holdings in Chevron were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. DeDora Capital Inc. grew its stake in shares of Chevron by 1.7% in the third quarter. DeDora Capital Inc. now owns 15,706 shares of the oil and gas company’s stock worth $2,313,000 after acquiring an additional 256 shares during the period. Sweeney & Michel LLC lifted its stake in shares of Chevron by 28.5% during the 3rd quarter. Sweeney & Michel LLC now owns 4,508 shares of the oil and gas company’s stock valued at $680,000 after buying an additional 1,001 shares in the last quarter. Calton & Associates Inc. grew its holdings in Chevron by 67.9% during the 3rd quarter. Calton & Associates Inc. now owns 13,359 shares of the oil and gas company’s stock valued at $1,967,000 after buying an additional 5,403 shares in the last quarter. Maple Capital Management Inc. increased its holdings in Chevron by 7.1% in the 3rd quarter. Maple Capital Management Inc. now owns 154,316 shares of the oil and gas company’s stock valued at $22,726,000 after acquiring an additional 10,205 shares during the last quarter. Finally, Krane Funds Advisors LLC bought a new stake in Chevron in the 3rd quarter worth approximately $320,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX stock traded down $0.51 on Tuesday, hitting $150.37. 694,319 shares of the company’s stock traded hands, compared to its average volume of 7,659,559. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $277.13 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 2.73 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. The stock has a fifty day moving average of $146.19 and a 200-day moving average of $153.55.

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). 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 analyst estimates of $48.68 billion. During the same period in the prior year, the business posted $3.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed 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. This represents a $6.52 annualized dividend and a yield of 4.34%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Scotiabank lowered their price target 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. Truist Financial cut their price target 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. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.