Sterling Investment Advisors Ltd. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Sterling Investment Advisors Ltd. grew its position in shares of Chevron Co. (NYSE:CVX) by 11.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,311 shares of the oil and gas company’s stock after acquiring an additional 2,519 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Chevron were worth $3,580,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after acquiring an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares during the period. Finally, Capital International Investors increased its position in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Up 0.2 %

Shares of CVX stock opened at $150.81 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $277.94 billion, a P/E ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. The firm’s 50 day moving average is $146.59 and its 200 day moving average is $153.23.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 4.32%. Chevron’s dividend payout ratio is currently 59.98%.

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.