Callahan Advisors LLC Has $15.85 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Callahan Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,628 shares of the oil and gas company’s stock after purchasing an additional 1,744 shares during the quarter. Chevron makes up about 1.5% of Callahan Advisors LLC’s portfolio, making the stock its 22nd largest holding. Callahan Advisors LLC’s holdings in Chevron were worth $15,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Security Advisor Inc. increased its position in Chevron by 9.2% during the 3rd quarter. Financial Security Advisor Inc. now owns 2,519 shares of the oil and gas company’s stock worth $371,000 after purchasing an additional 212 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Chevron by 1.9% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 41,480 shares of the oil and gas company’s stock worth $6,109,000 after purchasing an additional 785 shares in the last quarter. Long Run Wealth Advisors LLC increased its position in Chevron by 16.4% during the 3rd quarter. Long Run Wealth Advisors LLC now owns 3,303 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 465 shares in the last quarter. Balentine LLC increased its position in Chevron by 61.2% during the 3rd quarter. Balentine LLC now owns 8,801 shares of the oil and gas company’s stock worth $1,296,000 after purchasing an additional 3,340 shares in the last quarter. Finally, HF Advisory Group LLC increased its position in Chevron by 9.6% during the 3rd quarter. HF Advisory Group LLC now owns 4,342 shares of the oil and gas company’s stock worth $639,000 after purchasing an additional 380 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

CVX opened at $153.42 on Wednesday. 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 company’s fifty day moving average price is $147.20 and its two-hundred day moving average price is $152.86. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a market cap of $280.59 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 earnings per share. On average, analysts expect that Chevron Co. will post 10.65 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. Chevron’s dividend payout ratio is currently 71.65%.

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.