Harvest Portfolios Group Inc. raised its position in Chevron Co. (NYSE:CVX – Free Report) by 11.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,655 shares of the oil and gas company’s stock after acquiring an additional 1,113 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Chevron were worth $1,569,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CVX. Radnor Capital Management LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $4,650,000. Callahan Advisors LLC grew its position in shares of Chevron by 1.6% in the third quarter. Callahan Advisors LLC now owns 107,628 shares of the oil and gas company’s stock valued at $15,850,000 after purchasing an additional 1,744 shares during the period. Financial Security Advisor Inc. boosted its position in shares of Chevron by 9.2% in the third quarter. Financial Security Advisor Inc. now owns 2,519 shares of the oil and gas company’s stock worth $371,000 after acquiring an additional 212 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in Chevron by 1.9% during the third 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 during the last quarter. Finally, 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. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Wall Street Analysts Forecast Growth
CVX has been the topic of several analyst reports. UBS Group raised their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial increased their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.93.
Chevron Stock Performance
CVX stock opened at $157.65 on Thursday. The firm has a 50 day simple moving average of $147.43 and a 200 day simple moving average of $152.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $288.33 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.43 and a beta of 1.09.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the firm posted $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced 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 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is presently 71.65%.
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.
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