Benjamin Edwards Inc. Has $21.71 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Benjamin Edwards Inc. lifted its position in shares of Chevron Co. (NYSE:CVX) by 405.4% during the third quarter, HoldingsChannel reports. The firm owned 147,259 shares of the oil and gas company’s stock after buying an additional 118,124 shares during the quarter. Benjamin Edwards Inc.’s holdings in Chevron were worth $21,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Rational Advisors LLC acquired a new position in Chevron in the third quarter valued at about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $31,000. Anfield Capital Management LLC increased its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. UBS Group increased their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial increased their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Royal Bank of Canada boosted their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $175.56.

Chevron Price Performance

Shares of CVX opened at $161.93 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $153.36 and its 200 day simple moving average is $152.46. 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 $291.00 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 3.58 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the business earned $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.03%. Chevron’s payout ratio is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

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.