Platform Technology Partners Has $3.38 Million Holdings in Chevron Co. (NYSE:CVX)

Platform Technology Partners boosted its position in shares of Chevron Co. (NYSE:CVX) by 22.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,942 shares of the oil and gas company’s stock after acquiring an additional 4,219 shares during the period. Chevron accounts for 1.1% of Platform Technology Partners’ investment portfolio, making the stock its 18th biggest holding. Platform Technology Partners’ holdings in Chevron were worth $3,379,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter valued at $29,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Chevron during the third quarter valued at $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the 3rd quarter valued at $47,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $156.55 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business has a 50-day moving average of $147.97 and a 200-day moving average of $152.68. The stock has a market capitalization of $286.31 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.51 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.